The business community has issued a plea to UK and European Union (EU) negotiators, urging both sides to quickly resolve their differences around the Northern Ireland protocol.
The Northern Ireland Business Brexit Working Group said soaring inflationary pressures mean a quick resolution to the current standoff is imperative to protect the province’s consumers who are expected to see the largest fall in discretionary spending of all UK nations in the coming months.
It said the EU needs to show “much more ambition” in tackling the unnecessary burden placed on goods entering Northern Ireland from Great Britain (GB) which are at no risk of entering the EU. Importers have complained of red tape and additional costs as a result of the new regulations which have been introduced under the protocol for all imports, regardless of whether their final destination is Northern Ireland or if their final destination is the Republic or other areas of the EU.
