Richard Bruton (Dublin Bay North, Fine Gael)
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I welcome our guests. It is good to renew old friendships. I think the Government's objective, which is in line with my belief, is that we need the fastest sustainable move to the living wage, but we do not have IBEC or any other employer representatives before the committee during this meeting, so I will put to our guests what I hear from small business. It is looking at the 1.5% auto-enrolment, the new sick pay scheme starting in January, extended parental leave and the remote working legislation, and it is saying to us that this is a lot happening very quickly together and that we need some question of phasing and of understanding that the capacity of some businesses is very different from that of others. That is the sort of question the Government tries to balance. Today, the Central Bank indicated that 4% of businesses are at high risk of going under, and it suggested half of them can survive while the other half will go. In the budget, the Government attempted to support workers through a difficult period when pay increases they would like to get might not be possible because of other pressures in the economy.

I would be interested to hear our guests' takes on those sorts of issues. I acknowledge they do not represent small business and I do not expect them to, but are these issues they are hearing across the table? Do they see scope for this sort of balance? It is correct to say we could accelerate things if the economy does not go as badly as some fear. This is a bit like "Hamlet" without the prince but I would like to hear our guests' views on those sorts of pressures that the other side, particularly the representatives of small business, has highlighted to us.