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

I again thank the Deputy for outlining his concerns on the sectors. As it happens, the Minister of State, Deputy Calleary, the Minister of State, Deputy Higgins, and I were discussing the issue of manufacturing yesterday at one of our meetings. The Deputy is quite right. There is a varied number of issues that we are trying to respond to in that area. I have travelled around the country a lot since my appointment and I have found that one of the key areas is space. Many manufacturing or engineering companies throughout the country and the local authority network need quality units where they can do their work. With Enterprise Ireland, we will have a look at what we can achieve in that space.

Deputy Smith pointed out the various issues and costs. Due to the policies he has supported and the Government has implemented, inflation has halved since November 2022. That shows that Government policies are working. They are rapidly reducing the rate at which prices are increasing. In the energy market, the wholesale price of energy has reduced by 40%. We need that to be passed on to businesses and consumers and we have to work hard to achieve that. While those costs are there, we also have a strong package to meet them.

I also point out that the 9% VAT rate on gas and electricity remains in place until the end of the current budget period on 31 October. There are also the energy efficiency grants of up to €10,000, where the employer only has to put up 25%. I have been in shops on the main street in Cashel. I was in the SuperValu and they told me there that by changing their refrigeration and installing LED lighting, they can reduce their energy bill every month by more than €1,000. That improves cash flow. It leaves cash we do not want to see leaving the businesses with the businesses. We will keep working on that trajectory and in the areas that the Deputy rightly identifies as vulnerable. We will never take for granted the 2.8 million people who are employed in this country. Ten times as many new businesses are opening in the wider economy compared with the number of companies and corporations that are going into liquidation.

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