Seán Fleming (Laois, Fianna Fail)

I welcome Mr. Brady and I was very pleased to listen to his opening statement, which was concise. I want to put a series of questions to him. I hope I do not have too many and I will put them as concisely as I can. In a way, when I looked at IBEC's prebudget submission, which it produced in July, I found it little bit downbeat because it was all about global uncertainty and tariffs. Now, Mr. Brady is saying that in a recent survey of IBEC members the mood of businesses is different. If IBEC were writing its prebudget submission now rather than earlier in the summer, would it be different? Its members seem to think it would be. It is great to have it early so it is out there for the summer but the mood in the country has since changed, to some extent. The worry about the uncertainty and tariffs has probably ameliorated a little; I am not saying it has gone away. I want to put this question to Mr. Brady.

Mr. Brady spoke about infrastructure for housing. I will put a general question on IBEC's members in the sector. How does a major development for a private sector client, on a scale of hundreds of millions of euro or whatever it might be, compare with delivering for public sector organisations? Is there a difference in approach? Is one more efficient, better prepared or slower? I ask Mr Brady to explain this from his point of view. When we speak about infrastructure, big projects can be done by Irish construction businesses for the private sector, and the same scale of project being done for the public sector is slower. Will Mr. Brady give me his views on why this might be? We all have ideas on it but I would like his view on it.

One thing I do not understand, and Mr. Brady might explain it, is why there should be a temporary PRSI rebate for small firms. Everyone likes rebates but why exactly did IBEC come up with this and what is meant by a small firm? IBEC highlighted new apartments specifically for the benefit with regard to the VAT on development levies. I ask Mr. Brady to speak about this. Mr. Brady mentioned support for companies affected by the tariffs and that there should be Government support. Is the private sector not more resilient and adaptable than the public sector? I get the point but is this just because they are tariffs? Good business people are able to work their way around them and deal with them, without having to go to the Government to look for support because a tariff came in. The tariffs probably came in a little bit lower than what people perhaps might have thought they would be earlier.

Mr. Brady mentioned an increase in the research and development tax credits. I thought we had the most generous research and development tax credits of most countries in the world. They cost the State €1 billion and I do not know how much more beyond. Will Mr. Brady explain why he feels there is a need for something more than the Government is doing? I know it all helps employment and this is what we all want. I am just saying the economy is still quite resilient. I heard Mr. Brady say the mood for hiring has declined, and I understand people have been cautious over the past six months. Perhaps this will improve. I have asked a number of questions and I will not come in a second time. I ask Mr. Brady to answer and respond as best he can.