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

I thank the Deputies for their questions. I join Deputy Dillon in complimenting the IDA on its success in securing investment and good jobs for Ireland. Again, over half the investment is occurring outside Dublin. I would like to see that figure rise further in the coming years and I have said that to the IDA board. I will follow up about the Castlebar advance building solution with the CEO of the IDA. I understand there has been a difficulty securing an appropriate site. That was the last update, but I will seek another one. I am very keen to see another investment in Castlebar similar to that of Meissner, which was a good boost for the town economically.

Deputy McDonald spoke about corporate insolvencies having gone up, and that is correct. It is important to point out, though, that the number of corporate insolvencies was extremely low for the past couple of years, due in large part to the Government’s unprecedented financial supports for business, which cannot go on forever. We are still seeing that insolvencies are below the long-term average of about 50 per 10,000 per year.

As for what we can do to help businesses with their costs, which we are doing, the new increased cost of business scheme will provide relief to small businesses affected by rising costs. Under the scheme, in excess of €250 million is being set aside to assist businesses and we will ensure it is all paid out. Approximately 150,000 small businesses, which is 95% of all rateable businesses, are expected to benefit, with each eligible business receiving up to €5,000 from the State in early 2024. The funds will provide immediate financial aid to small businesses in the face of current economic challenges.

A new national enterprise hub will be fully operational early this year and it will have a dedicated team of expert advisers specifically trained to help guide business owners through the range of grants, loans and vouchers that are now available and, where necessary, put the business owner in direct contact with the relevant agency. We have also allocated an extra €9 million to the LEOs to assist small businesses. That boost in funding will allow them to provide essential assistance and resources to local business.

We have also increased the research and development tax credit from 25% to 30% as well as increasing the upfront payment from €25,000 to €50,000, which will especially benefit small businesses. We have increased the VAT registration threshold for microbusinesses to €40,000 for services and €80,000 for goods. That reflects the Government’s commitment to bolstering small business and acknowledging its role local communities.

The debt warehousing scheme is set to expire on 1 May. There has been a significant reduction in warehoused tax debt being paid from a peak of €3.2 billion to €1.76 billion, and the number of businesses that owe tax has fallen from 110,000 to just 57,000. However, we recognise cash flow is very tight for some businesses, especially at this time of year, and we want them to continue to trade so they can pay those back taxes. The Minister, Deputy McGrath, is actively engaged with the Revenue Commissioners on the scheme. Building on undertakings already in place, a proposal is being developed and it should be finalised in the next two weeks. There are several benefits already in place for businesses engaging early on the repayment of warehoused debt.

On the audiovisual stakeholders' forum, I had not heard that it had been established, but if that is the case, I am glad to hear that is happening. It is something I have encouraged the Minister, Deputy Martin, to do. I recognise the very high number of Irish people, businesses, producers and artists who have been nominated for Oscars, particularly Element Pictures. Theirs is an extraordinary achievement and I congratulate them on the work they do and on their creativity. Back in 2017, we announced we would double Government funding for the arts and culture by 2024. We have honoured that commitment and I hope the additional Government support has, in some way, contributed to the success of Irish literature, art and film in the past couple of years.

In response to Deputy Barry's question, I am reluctant to comment on any individual contract or any individual enterprise. We in this House set down the minimum conditions when it comes to all forms of leave and businesses have to apply them. It is up to businesses to decide to offer better terms and conditions if they so choose or if they are negotiating with a trade union, but what we stand over are the minimum terms and conditions we set in these Houses.

On housing, we will be publishing our progress report on Housing For All on Thursday, including the house building statistics from the CSO. I do not know what they are yet but it is my expectation that, last year, we will have built more than 30,000 new homes in Ireland, the highest in 15 years, which is no small example of progress. Homelessness and people living in State accommodation is a much more complex issue driven by lots of different factors that are not necessarily under our control. Where it happens, we try to make sure homelessness is rare, short lived and not repeated. A very large number of the people who have to experience homelessness, almost half, do so for less than six months and the majority, thankfully, for less than a year, but I totally appreciate that is a very long time in the life of a child, in particular.

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