We are all aware that the Brexit result sent shockwaves across Europe. It has very serious ramifications for the future of the EU and our island. We all agree that hard borders should not be reintroduced between North and South and that the common travel area should remain. There have been positive soundings about these but there have been mixed messages about how this special relationship between Ireland and the UK will be handled. It is most unfortunate that the Secretary of State for Northern Ireland was excluded from a recent Cabinet committee on Brexit set up in London. What the Tory Government does is outside our control but if the way it treats Northern Ireland is an indication of how it will treat the Republic of Ireland under special treatment, it does not give much cause for hope.

I want to focus on what the Irish Government needs to do because this is having a detrimental effect on businesses. It will have a detrimental effect in the medium and long term on businesses across this island. Preparations should be started to allow companies to be shielded and to give them comfort during what will be a very uncertain two year-period while negotiations take place. Companies that are reliant on exports need to be given the necessary supports to give them the confidence to ride out the storm of this uncertainty over the next two years. Through no fault of their own, good businesses that have been built up over the past number of decades are facing hugely uncertain times. While there have been many soundings about being prepared, very little action has been taken to show that we are actually prepared.

We have already seen the impact of the dramatic drop in sterling on businesses here. Some companies have already closed while others are at the edge of the cliff working at a loss and hoping that sterling will rise again. I spoke to a business in my region in the prepared consumer food sector that is working on a net margin of between 4% to 5%. It is now suffering a loss of between 20% and 25%. That is not sustainable. We know that the small and medium-sized sector employs over 780,000 people, particularly in rural Ireland, and is the backbone of employment in the regions. IBEC has called for a currency crisis fund to be set up but it appears its request has fallen on deaf ears. A total of 42% of our tourism market comes from the UK and the impact of the fall in sterling will reduce this dramatically.

Some predict it will be reduced by as much as 10%. Last week's budget underscored the seriousness of Brexit and the threat it poses to Ireland. It was just tokenism against the greatest threat that has faced the Irish economy for many decades. I am worried about the businesses that depend on exports. Will the Minister confirm that the Government will make a fund available to help shield Irish companies from Brexit and assist them in working through the uncertainties over the next two years until we all, eventually, know what will be the real outcome of Brexit?

The Government recognises the enormous challenges that face Ireland as a consequence of Britain's decision to leave the EU, including for farmers and exporters, as a result of the currency changes the Deputy mentioned, for the tourism industry, which is so dependent on visitors from the UK, for the service industry and for individuals. As the Deputy said, what the British Government decides to do is a matter for it. However, we can control what we do and we can prepare. The Government's sub-committee on Brexit, of which I am a member, met this week. The sub-committee discussed the very important actions that have been taken. There is additional funding in the budget for the employment of extra staff by IDA Ireland and Enterprise Ireland to ensure our message is heard overseas. Notwithstanding the performance of tourism, it was decided to keep the VAT rate at 9% for tourism and hospitality, recognising the risk that there may be a fewer tourists coming from the UK. We are rolling out a new low-interest loan scheme to farmers valued at €150 million to help with cash flow. There is a new business support scheme related to risk sharing under this development. The Deputy may be aware that the Minister of State at the Department of Agriculture, Food and the Marine, Deputy Doyle, arranged for a payment of just under €1.57 million to one of the mushroom producer organisations under an EU scheme.

We are acting to deal with the immediate consequences caused by the uncertainty and the fall in the value of sterling that have followed the vote. We are also planning ahead. The Taoiseach will visit Northern Ireland on 3 November and will meet all the party leaders and chambers of commerce. We will establish an all-Ireland civic forum to discuss the consequences of Brexit. It will be of particular relevance to Border communities which are most at risk from Brexit. The next North-South Ministerial Council summit will occur on 18 November in Armagh, which will give us an opportunity to discuss the consequences of Brexit with the Ministers from the North and work out how we can work together to meet those challenges head on.

Although we were told that the budget would be Brexit-proofed, this has not proven to be the case. During recent weeks and months, I have spoken to business owners in my region. It is not like when the Taoiseach tells the story of the man he met the night before who was having a pint. I spoke with the owners of real businesses who are creating real jobs: one had created 100 jobs, another 170, and another 500. Every one of them is dependent on exports and they have a real fear about the outcome of Brexit. Our region has already suffered job losses during recent months and we do not want any more. The Minister talked about the 50 staff recruited for IDA Ireland and Enterprise Ireland. Most of these were recruited before Brexit happened. The Minister talked about the retention of the 9% VAT. It has been in place for many years. I acknowledge that it was the Minister's Government that put it in place and it was a welcome boost to the industry at the time. Everybody who works in the tourism industry has real concerns about Brexit here and now. I will reiterate the question I asked at the beginning and perhaps the Minister will answer it this time. Will the Government make a fund available to help Irish companies that are dependent on exports and vulnerable to currency fluctuations work through the uncertainties of the next two years so that, hopefully, they will be able to ride out these uncertainties and be in a stronger position after the two years' deliberations?

I cannot give the Deputy a specific commitment today. I am not in a position to make policy decisions on the hoof. Some funds are already available. For example, a payment has been made to a producer in the mushroom industry and, as part of the budget, a low-interest loan scheme to the value of €150 million is being put in place for farmers.

Falls in the value of sterling have happened before. They can happen independently of any concern or decision around Brexit. They work both ways. For some companies, they can be devastating, moving them from a position of profit to one of loss. For others, they can be a benefit. If companies import from the UK, for example, their costs will be reduced. Although it is not possible for every industry, the solution for most is to diversify and not be dependent on one market.

I will leave the Deputy with a final thought. Four times in its history, Ireland has gone down a different road from the UK. In 1921, we became independent, which came with challenges. In 1948, we left the Commonwealth and became a republic. There were challenges associated with that. In 1979, we broke the link with sterling, which came with challenges. In 2002, we decided to join the euro without Britain and, of course, there were challenges with that. On every occasion, we rose to those challenges and Ireland emerged stronger and more prosperous as a result. We will ensure that the latter will also be the case on this occasion.