Niamh Smyth (Cavan-Monaghan, Fianna Fail)

The red-tape challenge will be introduced across Government to significantly reduce regulation for SMEs, because we have to get the balance right. I am glad the Deputy stated that regulation is the third most important issue. Companies and CEOs recognise the importance of regulation without killing businesses with additional burdens. The red-tape challenge will include a review by each Department to identify regulations to be removed or reduced without impacting on policy objectives, and a public consultation to identify areas of high burden or where burden reduction could be launched is a focus of the Government.

The overarching objective of the action plan to which I referred is to maintain and improve Ireland's position as a competitive and productive economy capable of withstanding shocks, building on our strengths and developing the indigenous enterprise base while continuing to attract investment and talent from abroad. The action plan contains 85 actions for enhancing Ireland's competitive and productivity performance, with 26 of these identified as priority actions. I hope that provides some detail for the Deputy.

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