Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

I propose to take Questions Nos. 6, 12 and 19 together.

I thank the Deputies for their questions. Understandably, a lot of businesses are very worried heading into the winter. The cost of energy and the cost of doing business more broadly is rising. Interest rates are going up and consumer confidence is waning. Businesses need help with their energy bills so the Government has introduced a significant package in the budget to help them over the coming months.

As the Deputies will be aware, the temporary business energy support scheme has been designed to help eligible businesses that have experienced a significant increase in their electricity or natural gas costs. It will apply to trades, professions and new businesses and is currently being finalised as part of the Finance Bill, which is progressing through the Houses.

This morning, along with the Minister, Deputy Michael McGrath, I launched the new €200 million Ukraine enterprise crisis scheme. That is for manufacturers and internationally traded firms. It will provide up to €500,000 per firm to ensure there is sufficient liquidity available and up to €2 million per firm for those businesses that are particularly energy-intensive.

In addition, a new €1.2 billion State-backed Ukraine credit guarantee scheme will help the wider business sector with liquidity and help it invest in energy efficiency. I received Government approval earlier this week to publish the legislation to underpin this, which I will bring through the Oireachtas in the coming weeks. Also, a new State-backed growth and sustainability loan scheme will be opened next year and will be the successor to the future growth loan scheme.

The reduced rate of VAT on gas and electricity from 13.5% to 9% has been extended until 28 February 2023.

This is very much an evolving situation, though. We understand the scale of the energy crisis and I assure the Deputies that we will respond with scale.

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