Alan Dillon (Mayo, Fine Gael) | Oireachtas source

I thank the Minister. I think we are all in agreement that the supportive measures and schemes that were introduced earlier during the pandemic and within budget 2023 were a massive lifeline of vital importance to the survival of many SMEs. Nevertheless, businesses are still struggling to cope with the soaring energy costs, the rising interest rates and the broader inflationary pressures across our economy. The mood among some companies that operate in the domestic economy is not great. Revenue sheriffs will soon begin seeking up to €500 million in quarter 1 of this year and that will compound the problems of some SMEs that are struggling to cope with high fuel costs and the cost-of-living crisis. The number of insolvencies in the hospitality sector almost doubled in 2022 compared with previous years.

We face a perfect storm in the months ahead. Careful consideration must be given to prevent companies from collapsing, which would have a negative impact on our employment rate.

I ask that the Department consider these matters.

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