Irish minister warns against June cliff-edge Brexit

Irish Finance Minister Paschal Donohoe said this morning the EU is keen to avoid a “cliff-edge” Brexit at the end of June.

Speaking in London, he added that Ireland remains confident of prevailing with its allies in a battle against France and Germany over its low corporate tax.

“Ireland will provide a generous response” to the U.K.’s request to extend the Brexit deadline, Donohoe said in a public question-and-answer session after a speech hosted by Bloomberg.

But he warned that the EU would be mindful of “the need to avoid a scenario of rolling cliff edges, where there is a sense now that we just came through one but the next one that is approaching is the real one.”

“Particularly from a financial markets stability perspective and economic stability I think we need to be aware of that.”

Donohoe also said Ireland would prevail in the ongoing EU tax policy conflict, between France and Germany on one side versus smaller countries with lower corporate tax rates.

“Many countries see their own tax rate … as a critical decision that they make themselves at national parliaments,” he said. “So you will see a growing number of countries, for their own reasons, make that case publicly.”

“I am confident that Ireland can continue to be certain in that part of our [tax] competition.”

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