Malone: Dundalk not so badly affected by fall in Sterling

Donard McCabe

Reporter:

Donard McCabe

Dundalk not so badly affected by fall in Sterling

Paddy Malone Dundalk Chamber of Commerce

While we have seen a rapid drop in the value of the Sterling since the election results came in last night, the adjustment is not as bad as it could have been according to Dundalk Chamber of Commerce PRO, Paddy Malone.

Speaking to LMFM radio today, he had this to say:

"Sterling has fallen already. But UK inflation is twice what it is in the Republic of Ireland. So Uk prices are moving very fast upwards. So this adjustment isn't as bad as I would have feared 12 months ago."

Malone goes on to speak of the importance of the Shop Local Voucher scheme to the local economy.

"People are rallying to the Local. Five years ago this was a threat to the border counties. This is now a threat to all retailers because of online shopping"