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

This Government, through the Action Plan for Jobs, has taken decisive action to support all sectors of the economy recover from the deepest recession we have experienced in recent decades. This sustained focus on job creation has resulted in the creation of over 209,000 additional jobs since 2012. The unemployment rate has declined from over 15.1% in 2012 to 6.2% in April this year.

The motor industry was impacted during the recession in the same way as all other sectors. The sector has recovered substantially over the last five years. New vehicles registrations reached their highest level since 2009 last year. While the data for the first four months of 2017 indicates a decline of over 9% compared with the same period last year, registrations remain above the levels in 2015 and immediately preceding years.

Data from the Central Statistics Office, CSO, also indicates an increase in imported vehicles being registered, in part reflecting the weakening of sterling and consumers seeking value for money.

The outlook for consumer spend remains positive. According to data provided by the Department of Finance, personal consumption expenditure is growing and consumer sentiment in March was higher than it was in February. Headline retail sales are up and the total number of private cars has increased over the year. Overall, consumer spending, employment trends and taxation receipts confirm that Ireland's economic fundamentals remain solid. This positive outlook should continue to benefit the motor sector in its recovery to a sustainable level. Additionally, my Department is undertaking extensive preparatory work and consultation to anticipate the impact of Brexit on key sectors, including the retail sector. As chair of the committee for responding to Brexit in my Department, I will continue to ensure we address the challenges and, of course, the opportunities arising from Brexit.

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