Northern Ireland

Former IFI chief calls for Brexit delay to secure deal

Willie McCarter believes a Brexit deal can be reached if EU and UK negotiate in "good faith".
Willie McCarter believes a Brexit deal can be reached if EU and UK negotiate in "good faith". Willie McCarter believes a Brexit deal can be reached if EU and UK negotiate in "good faith".

Former head of the International Fund for Ireland, Willie McCarter has called on the EU and UK to halt the Brexit process immediately and to “park” the withdrawal agreement until a deal can be struck.

Mr McCarter, one of Ireland’s leading businessmen, said the process should be delayed for two years to let the two sides negotiate a long-term free trade agreement in good faith.

The former head of clothing giant Fruit of the Loom made his appeal as Theresa May attempted to address the concerns of Northern Ireland business leaders.

He said: “The withdrawal agreement would be parked by mutual agreement. This would mean no upfront payment of 39 billion to the EU but the UK would make its normal payments each year to the EU.

“In two years time, assuming the successful completion of the long-term free trade agreement and assuming that this contains a solution to the Irish border problems, the UK would again trigger the Article 50 process to withdraw from the EU.”

Mr McCarter said a 12-month transition period would then be sufficient to ensure a smooth transition during which the withdrawal agreement could be concluded without a backstop. However, if there was no long-term free trade agreement after two years, the UK would again trigger Article 50 and negotiations would resume. If after a further 12 months, there was no agreement, the UK would leave the EU without a deal.

“During the next two years, starting immediately consideration might be given by the EU to allow the UK to begin negotiation of free trade agreements with third countries. However, no agreement could operate until the UK had left the EU,” he said.