Peter Burke (Longford-Westmeath, Fine Gael) | Oireachtas source

With regard to Deputy Howlin's contribution, the Taoiseach was very concerned about the Inflation Reduction Act. The Deputy quite rightly referred to state aid and the beneficiaries of that, which is a massive concern for the Government. President von der Leyen said the Commission will issue a package of measures on four key issues - regulatory environment, finance, skills and trade - in the coming days as a response. Competitiveness is key to the EU and we are very much exposed to that, as the Deputy rightly pointed out. We are trying to build a close relation with the US but we must also be very mindful as to the impact the Inflation Reduction Act may have, including on the acceleration of the green economy. As to state aid and the temporary measures that were taken, we must be careful as to how they affect Ireland and how they can benefit other major EU economies. I will be to the forefront in raising this at the upcoming EU summit.

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