Oireachtas Joint and Select Committees

Thursday, 17 October 2024

Joint Oireachtas Committee on Transport, Tourism and Sport

General Scheme of the National Cyber Security Bill 2024: Cyber Ireland

1:30 pm

Photo of Alan FarrellAlan Farrell (Dublin Fingal, Fine Gael) | Oireachtas source

In Mr. Honan's opinion, is there any mechanism to mitigate those costs for businesses? I do not think we are talking about small firms but, that being said, 25% of a firm's IT-related budget is still a very significant cost and would be quite something for the accountants to swallow. In the Irish context, most of these firms are going to be very significant players in the market and they probably will have share outside of our jurisdiction as well. Is there something we can do, either through this Bill or secondary legislation, to somehow mitigate such costs, or are they unavoidable?

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