Report confirms massive economic windfall from reunification

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The reunification of Ireland would lead to a massive economic windfall for the whole island while Brexit will have disastrous consequences, a major new international research study has concluded.

The report, ‘The Cost of Non Unification – Brexit and the Reunification of Ireland’ was conducted by a team of political science and economics researchers led by Dr Kurt Hübner, Director of the Institute for European Studies at the University of British Columbia. It updates their previous work on the economics of Irish reunification to take into account the impact of Brexit.

Commenting at the launch in Belfast today, Sinn Féin Deputy Leader Michelle O’Neill said such compelling evidence could not be ignored.

“This report, and particular economic modelling, exposes the hard economic evidence that reunification would provide a massive economic boost to the entire island,” she said.

“Dr. Hübner and his team bring a wealth of experience to this debate and their conclusions are crystal clear – reunification would lead to a massive €23.5 billion increase in Gross Domestic Product (GDP) across the island by 2025. The vast majority of these economic benefits would be in the North, where GDP would increase by 17.9 billion, that equates to over €9000 for every citizen.

“That is in stark contrast to the economic devastation identified in the report of a no-deal Brexit which would lead to a slump in GDP of over €10 billion. Even in a post Brexit scenario where the North remains in the European Single Market, we would still face a GDP decline of almost €4.5 billion.

“So of all the potential futures facing the people of Ireland, North and South in this current climate of political uncertainty, it is abundantly clear that reunification is the one that not only makes sense, it is imperative if we are to maximise the potential prosperity of all our citizens.

“In the words of the report, unification ‘is the only option with positive net effects’.

“This strength of this evidence cannot be ignored and while we thank Dr Hübner and his team for this valuable contribution, it is a debate that the Irish government must now take a much more proactive role in leading.

“A new generation is already questioning partition, particularly in the context of Brexit, and it is time now for the Irish Government to encourage and lead an informed, reasoned and respectful public dialogue on the issue of Irish unity.

“It is also time that the Government prepared a realistic plan for Irish reunification, including the establishment of an Oireachtas committee to bring forward a Green Paper for Irish reunification.”