Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

The work carried out by the Government on preparedness at all levels and all outcomes is well advanced, focusing, in particular, on trade with Britain. Brexit presents the most significant economic challenge of the past 50 years for businesses in all parts of the country and my Department and its agencies are working hard to ensure firms that potentially will be impacted on are taking the necessary steps to prepare and mitigate risks and take advantage of potential opportunities. I am conscious that further efforts are needed to ensure companies in the Border region are resilient to economic shocks, including Brexit. To that end, I am committed to ensuring Enterprise Ireland, the local enterprise offices and InterTrade Ireland will continue to work with companies in the region to drive innovation, competitiveness, internationalisation and Brexit preparedness.

My objective is to sustain the progress made in job creation and economic recovery. On the broader employment aspect, while the Border region had a relatively low unemployment rate of 4.4% in quarter one of 2018, I am conscious that more can and must be done. The north-east and north-west regional action plan for jobs will also boost enterprise and job creation across the Border region. In 2017 the number of Enterprise Ireland jobs increased by 7% in the north west and by 5% in the north east, while the number of IDA Ireland jobs grew by 4% across the region as a whole.

I am very conscious of the potential exposure of the northwest and north-east regions to Brexit and the deep links with local economies on both sides of the Border. The north west and north east already have special status in terms of state aid rules.  My officials are continuing to engage with colleagues in the European Commission as part of a state aids technical working group on how best to ensure we can support the transformation needed at firm level to diversify trade to third countries and protect rural economies. This group which also includes colleagues from the Department of Agriculture, Food and Marine and Enterprise Ireland will meet again later this month in Brussels.

A major initiative which my Department recently introduced for all firms impacted on by Brexit the €300 million Brexit working capital loan scheme, under which accessible finance is made available to businesses on favourable terms. Clearly, firms in the Border area are more likely to be impacted on by Brexit and should seek to avail of this funding. I am pleased that 12 firms have already applied for working capital, at an interest rate of 4% under the scheme. I am also working with my colleague, the Minister for Agriculture, Food and Marine, on proposals for a longer term finance scheme in order that firms can invest for the future and increase productivity and incomes.

Additional information not given on the floor of the House.

More generally, the agencies supported by my Department are continuing to offer a comprehensive range of supports and guidance to firms in the Border area, as well as elsewhere. The six LEOs in the Border region also provide additional Brexit supports which are focused on capability building, market diversification, driving increased competitiveness and promoting innovation in orderthat LEO client companies can better cope with the challenges arising on foot of Brexit and explore opportunities presented. In addition, the LEOs work with their Northern Ireland counterparts under the EU Co-Innovate Programme.

In summary, I am committed to supporting the agencies within my remit to continue to respond to the needs of companies affected by Brexit to protect jobs and build resilience across the country.

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