DUNDALK (Ireland): During the wake of the Brexit referendum earthquake, people felt the aftershocks as keenly for the reason that shopkeepers of Dundalk, a sleepy capital of scotland- 37,000 people around the Irish border with Northern Ireland.
Following the plunge within the price of the pound, residents are actually heading across to Northern Ireland to try and do their shopping and the movement just has intensified while in the run-up to Christmas.
But even though the politicians will still be figuring out what Brexit will look like, retailers in Dundalk are fighting back with shopping vouchers – a form of alternative currency targeted at boosting local shopping.
“The vouchers allow businesses to grant their employees nearly 500 euros (US$520) being a Christmas bonus tax free, turning it into victory for employers, a win for employees and also a win for local businesses,” Dundalk Chamber of Commerce chairman Michael Gaynor told AFP.
The pound happens to be about 10% lower resistant to the euro when compared to ahead of the June 23 referendum.
The vouchers are available online or within the Dundalk Chamber of Commerce’s office and is obtained either by individuals as regular store vouchers for Christmas presents or by employers for bonuses.
The colourful “Shop Local Vouchers” are printed in denominations of 5, 10, 20 and 50 euros and are generally accepted in additional than 200 Dundalk stores, from jewellers to electrical outlets to cafes.
So far at the moment vouchers to the price of greater than 300,000 euros happen to be purchased plus the Chamber expects this to top out at substantially more than 500,000 euros by the end of the festive period at the beginning of January – a welcome boost to some local economy under severe pressure.
‘Worth bringing the trip’
The border offers to often be a central component of Brexit negotiations as much for sides fear coming back of customs and police checks – the “hard” border present during decades of conflict around the island.
The border is actually open and checks would be “hugely problematic”, including for most people from Northern Ireland who function in Dundalk, Gaynor said.
In recent months, shoppers with the Irish Republic have already been crossing the border in waves to adopt benefit from the favourable exchange rate, particularly on alcohol, toys and groceries.
A recent Red C poll established that approximately 56% of clients in border counties developed to go Northern Ireland for Christmas shopping along with a report by Goodbody Stockbrokers showed traffic flows from south to north on Saturday mornings had surged 29% within the wake of your referendum.
Although one can find strong draws support the local economy, even people walking the streets of Dundalk are voting utilizing their pockets.
“Everything up north for toys is cheaper as there was more variety — it\’s seriously worth bringing the trip as many as go a little different and save a couple of euros,” said Chris Cumiskey, a housewife who said she can save around 25% on shopping for groceries within the nearby Northern Ireland capital of scotland- Newry.
Eugene Kelly, discovered a duffel bag man, said: “Following the afternoon, ensure choose the bargains.
“They are able to the economy at this point is will be affected but right after your day you must select your very own pocket,” he was quoted saying.
Lorraine Prenty, a personality\’s resources executive, said she chosen to shop local but noted the rise in cars heading along the border money and time.
“Around Dundalk there will not be a similar quantity of traffic or the number of individuals this coming year,” she said.
Gaynor aimed to strike an upbeat tone, nevertheless a modest recovery inside the property value the pound since referendum meltdown had had been avert disaster.
“We have now been able to weather the storm, for the present time as a minimum,” he stated.