Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael) | Oireachtas source

Funding of InterTradeIreland, ITI, is provided on a 2:1 basis by my Department and its counterpart in Northern Ireland, respectively. Discussions between both Departments to finalise the body's budget for 2017 have not yet been concluded, largely because the level of funding cannot be formally agreed until an Executive is in place in Northern Ireland. Those discussions, once completed, will determine the overall budget for the remainder of this year, and we are focused on reaching the outcome that equips the body with the financial resources it requires.

Having visited ITI's offices recently and met its management team in March, I am very much aware of the important role it has in helping SMEs address the commercial challenges associated with Brexit. That is why I have made additional financial resources available to ITI to supplement its main annual budgetary allocation. This will bring its total allocation from my Department in 2017 to €7.9 million. Last year, for example, my Department funded a study, which will be published shortly, examining some of the tariff-related impacts Brexit may have on cross-Border trade. Further financial support, of €250,000, was allocated to allow it to undertake a series of new practical Brexit-related initiatives. We will keep the financial requirements of ITI under review throughout 2017.

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