Oireachtas Joint and Select Committees

Tuesday, 27 March 2018

Select Committee on Jobs, Enterprise and Innovation

Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised)

5:00 pm

Photo of Heather HumphreysHeather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

It is okay. Of course, at budget time, everybody puts in their pitch. A request was sent in. We examined it very carefully and are now in the position where we are providing this €300 million loan fund for working capital for businesses that are impacted by Brexit. That is certainly something that is very important.

We have agreement from Europe for a €10 million stabilisation fund, which is also very welcome because it means we will be able to provide that level of support to businesses that need it.

Those are just some of the initiatives that have been developed since to support businesses. Enterprise Ireland got an extra €1.3 million for pay in 2018. That accounts for 20 new staff in 2018 on top of the 39 extra staff it got in 2017. Enterprise Ireland is continuing to monitor closely the ongoing potential impact of Brexit on companies and their needs to respond to the challenges. The introduction of the €300 million loan guarantee scheme is certainly a welcome initiative and will help companies to access funding to mitigate against the potential impacts of Brexit.

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