Frances Fitzgerald (Dublin Mid West, Fine Gael) | Oireachtas source

I propose to take Questions Nos. 7 and 20 together.

I recognise the particular challenges that Brexit can pose for some of the sectors the Deputy mentioned. One of our core ways of dealing with the challenges in different areas is the action plans for jobs. The north east-north west regional action plan is a key response to try to deal with the challenges and to support employment growth in the region. Its aim is to support job creation across the region, including in counties Cavan and Monaghan, by ensuring there is collaboration between the public and private sectors and that Enterprise Ireland, the IDA and so forth are supporting that work.

The core objective of the action plan is to have a further 28,000 at work in the region by 2020 and to ensure the unemployment rate is within the 1% of the State average. The sectors being targeted include the traditionally strong sectors in the area such as agrifood, manufacturing, engineering and tourism. The second progress report is being finalised and is about to be published. Over 96% of the actions due to be completed under the plan have been done and 6,000 jobs were created in the Border area since the regional action plan for jobs initiative was launched in January 2015. The unemployment rate in the region has fallen from 10.2% to 6.6%.

Clearly, we must continue this work but it is important to note that at this point in time live register numbers have fallen in County Cavan by 16.5% and in County Monaghan by 14% in the past 12 months. That is good progress but we cannot be complacent given the challenges that may be ahead, particularly for the sectors that are reliant on the UK market. Any changes in sterling would particularly affect them. This is a key focus for Enterprise Ireland in working with clients and the sectors the Deputy mentioned. The main message is to prepare for Brexit by business and by sector to ensure that firms can diversify and be supported in doing that. EI has a plan in place to focus more on the eurozone and that means supporting the firms mentioned by the Deputy to diversify to the eurozone. However, that will not be done overnight which is why a transitional phase in Brexit is very important. That is why the supports that are available for firms must be used at this point. This is what we probably should be doing anyway irrespective of Brexit, but there is a great deal of support available.

There is also the regional enterprise development fund. There was an announcement in the budget that the second tranche of that, €25 million, will be available. People can apply to that fund from January and decisions are currently being made in respect of the first tranche of that funding. Regional development was one of the criteria that had to be taken into account so all parts of the country will benefit from the fund.

In terms of firms that could be vulnerable in the context of Brexit and which need working capital, that is, firms that would be viable if they had access to capital in the short term, the Brexit loan scheme we have announced will be available to those firms in the Cavan, Monaghan and Border region as well.

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