Damien English (Meath West, Fine Gael) | Oireachtas source

Our work on that scheme is ad hoc. There is not a budget set aside for the future. Instead, as a need arises, we open a scheme in conjunction with the Red Cross and allocate funding to it. A request has been made that we strengthen the position across some Departments so that there is a regular and committed fund, but the funding is generally provided for from within own resources. What happened in Donegal was an exceptional case, but a scheme is usually opened in response to weather events like those in the Deputy's county of Cork, Wexford and Galway. A number of schemes were opened in August and November and funding under them will be available throughout the year. We will work with the Red Cross. The initial response of most businesses is to apply for €5,000. It is not common to apply for more than that, but it is possible. To clarify, the scheme is for businesses that do not have insurance. After a flooding event, it is difficult to get repeat insurance, and it is in this context that money is generally drawn down.

Regarding the differences between various parts of the retail sector, we sit on the retail forum and I chair it. I believe that all of the representative bodies are on it. We regularly discuss what is needed and what pressures are on various parts of the sector. It is correct to say that representative bodies raise certain areas that are under immense pressure, for example, butchers. We believe that the TBESS will bring relief to those businesses. We will continue to engage and track the situation in the months ahead. We can already see that some businesses have been hit hard, with a number around the country being forced to close their doors. Thankfully, that number is small so far, and we want to ensure that it remains small. That is why this support is in place.

It is important that we get this money out this year because businesses are under pressure from a cash point of view. Knowing that the scheme is coming is a help, but many in the business community will not know what has been put in place until it is open and they can draw the money down. They are fearful. If we can get this scheme out, it will help many of them.

Businesses have been impacted at different times. Some were still in contact with prices up until September, others were hit a year or eight months ago. Each company we visit has a different story and we are trying to respond in general as best we can. We will track the situation specifically.

Regarding the ESA and our investment in space technologies, I would be happy to have a session with the committee. This is an important sector and we have a specific plan for space-related enterprises in conjunction with Enterprise Ireland. The growth in this area has seen a nearly 40% increase in the number of companies winning contracts from the ESA. For us, there have been two successes. First, these companies have created 1,000 plus jobs. Second, the technologies they are working on are transferable to many other markets and can have an impact in terms of weather events, health and so on. This is generally where we are investing.

There is a great deal of potential in this for Ireland. Skills and talents are being developed. Launching our first satellite early in the new year, led by a team from UCD, is a major achievement. This work develops talents, skills and an interest in science, technology, engineering and mathematics, STEM. We are finding that young people are showing an interest in STEM subjects because people are tracking the story of EIRSAT-1. Irish companies were also involved in the James Webb Space Telescope, JWST, which is sending us fabulous pictures from space on a nearly daily basis. Réaltra designed and manufactured the technology that captured JWST's video pictures. The number of young people who are now getting in contact with us shows a new interest in this area.

Our investment in space is through our SMEs and technologies. That is our role as a country. This large sector has potential and it is important that we be a part of it to avail of the opportunities it presents. I would be very happy to return to the committee to discuss this topic.