Peter Burke (Longford-Westmeath, Fine Gael)

I thank the Deputy for his question. Ireland is currently a strong competitive global economy. This performance is reflected in our exceptionally strong economic performance in recent years. However, the international context is rapidly changing and we recognise, as do many businesses, where our indigenous and foreign direct investment, FDI, sector are concerned, that they are facing increased challenges.

In recognition of these challenges facing Ireland, the current programme for Government committed to the publication of a new whole-of-government action plan for competitiveness and productivity by January 2026. The Government has, however, accelerated this timeline, with a draft of the plan to be considered by Ministers at a competitiveness summit in July. This plan will cover industrial policy, reducing the cost and regulatory burden on business, investing in infrastructure, digital regulation and reform, energy reform, international trade and research and development and innovation.

Over the coming weeks, the National Competitiveness and Productivity Council will finalise and submit its Ireland’s Competitiveness Challenge 2025 report to Government. This work will feed into the development of the action plan. Alongside this, my Department is undertaking consultation with stakeholders, including other Government Departments, to ensure that the action plan is evidence based and reflects the issues impacting Ireland’s competitiveness.

Given the heightened level of international uncertainty, the overarching objective of the action plan will be to focus on matters within our control by way of policy changes that can make the domestic economy more competitive and resilient to shocks. That is one of the critical issues we were, as a Government, very much aware of. We are the most competitive economy in the eurozone and fourth under the Yearbook of International Organizations but our infrastructure offering is coming under pressure. We need significant investment in energy capacity in the future. We need to ensure our family businesses are operating at the lowest cost base possible and also bring the Draghi report to the heart of government in a European context where we see the new competitive compass which provides a huge amount of opportunity to cement industries here in our economy.

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