Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

We are focused on introducing a number of schemes. There has been much criticism of some of the administrative burden of schemes. The increased cost of business scheme is being designed in a manner that will get money quickly to businesses and will invest more than €250 million in small businesses over the coming quarter. The Department is finalising the arrangements for that scheme. We are working hard to get that money out to the smallest of businesses. We have changed it from what was outlined on budget day in response to feedback.

I will point to other issues. The 9% VAT rate on gas and electricity has been extended by 12 months to the end of October 2024. That will assist with some of the pressures on businesses as a result of rising energy costs. We also increased the VAT registration thresholds on goods and services on budget day, which will take many businesses away from administrative and cost burdens in the current period. The temporary excise reductions that apply to auto diesel, petrol and marked gas oil, which were due to expire on 31 October 2023, are being extended until the end of March 2024. A wide range of supports is available to smaller businesses through local enterprise offices, Enterprise Ireland and Údarás na Gaeltachta, which was referred to by some Deputies.

Our Department is very aware of and in touch with the current pressures on business. We are regularly engaging with hospitality and small business through the enterprise and retail forums. We are constantly engaged with them around the pressures.

We also have to operate within a budget, and within the parameters of a budget laid down here last October. We will continue to engage with business and support business, as we have through the most incredibly challenging of times in the term of this Government. We stood by business and stood up supports, and we will continue to do so.

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