Brexit concerns by Brassil trigger national alarm
Fresh Brexit fears were triggered nationally this week as a Kerry TD raised yet another potential pitfall that could bleed tens of millions of Euros out of the economy in the short term, amid fears over the payment of pensions.
Fianna Fáil TD John Brassil raised the issue following contact by a Kerry constituent who was warned by her pension provider in the UK that payment into her Irish bank account could be discontinued in the event of a ‘no-deal’ Brexit.
“If Britain exits the EU without a deal, as is a distinct possibility, pension providers in the UK warn they will no longer be able to pay into Irish banks in what will be a completely separate financial jurisdiction.
“They are now being advised to set up British bank accounts, something that is difficult in the extreme for non-residents of the UK,” Deputy Brassil told The Kerryman this week.
“People will still get their pension but might not be able to access it in the short term.”
In the wake of his warning it has emerged that around 120,000 people in the Republic are in receipt of a British state pension, with many more also in receipt of private pensions from the UK.
Deputy Brassil is now urgently calling on the Irish Government to do everything it possibly can in working towards a Brexit deal with minimal impact on the citizens of the country.
“The only way things can work out to our advantage in my opinion is with a soft Brexit. This is way too important now as the only country that’s going to be really affected by Brexit at the end of the day is ourselves.
“We’re six months away from the UK leaving the EU, but we don’t seem to be any closer to a deal, and there’s nothing to satisfy me that things are going to end any way favourably for Ireland. I hope I’m wrong.
“I’ve warned about the potential shortage of drugs in the event of a ‘no deal’ already. The big issue of the border is what is being talked about mainly, but it’s all the small issues, like pensions, that are the ones which will hurt us more than anything else,” he warned.