Neale Richmond (Dublin Rathdown, Fine Gael) | Oireachtas source

On Tuesday, the Minister, Deputy Coveney, announced a €250 million investment from this Government in SMEs. This new fund will benefit 87% of rate-paying businesses across the country. This is in recognition of the need to increase the minimum wage, move towards a living wage, as well as accepting the increased costs to businesses. This grant will be paid into the bank accounts of these businesses in the first quarter of next year and this is the re-purposing the Deputy is talking about. It is effective and will get to source. This Government is completely committed to increasing the national minimum wage, reflecting the recommendations of the Low Pay Commission and will reach the living wage, bearing in mind that many business leaders, the larger ones with the ability, have already moved ahead in this process. We will reach it by the stated target of 2026 and we are doing that in a manner which brings the employers and the employer groups, as well as the trade union movement and the workers, on that journey as well.

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