Our first thoughts are with the workers of Cartamundi and their families. This is very bad news for them. It is obviously completely out of the control of the Government. There are macroeconomic factors. Lower consumer confidence in 2022 resulted in a sharp reduction in demand and significant excess product in the market, so the company decided to close its Irish operation. Our agencies will work with the workers and we will do everything we possibly can to help them to come through this period and, if possible, to secure alternative employment.

The economic recovery since Covid has been substantial and very significant. We now have about 2.6 million people at work. Our target was 2.5 million. The unemployment rate is 4.3% and the rate of youth unemployment is the lowest on record. We will work with the workers to see whether we can secure alternative employment for them.

See this speech in context