Results 4,641-4,660 of 49,836 for speaker:Stephen Donnelly

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: I do not mean this disrespectfully but the answer the Minister just gave illustrates exactly the dialogue I have been having with the Government for the past year where I say the businesses are saying they are not getting ready. We had data from the Department last year and data from AIB and InterTradeIreland. Survey after survey indicates Irish businesses are not getting ready for Brexit....

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: I will move on. The point I am making is that for me, it is not some companies, it is 94%. It is not like 20% are not getting ready. A total of 94% are not getting ready. Clearly, that is not what any of us want. In respect of Brexit funding, Colm Kelpie wrote that the Brexit unit had requested about €40 million but the figure reported was only €1.3 million. He wrote...

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: It concerned the head of the Brexit unit writing to the Minister before the last budget seeking €40 million for Brexit preparation.

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: Yes, the Brexit unit in Enterprise Ireland. It was reported that Ms Julie Sinnamon had written seeking approximately €40 million but that the agency received an additional €1.3 million. Is this the case and if so, why? My apologies - now that I am asking the Minister, I appreciate that I should have sent her this question ahead of time.

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: The reason this specific issue was only written about last week, and this arises from the budget cycle last year, was because the information was obtained under freedom of information, FOI. Is the Minister confirming that the Brexit unit in Enterprise Ireland did request €40 million but only received €1.3 million?

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: I thank the Minister. Specific to the loan schemes, I have concerns in two areas, the first on the level of drawn down funds and the second on the interest rate. If we talk about the two active funds, the credit guarantee scheme and Microfinance Ireland, which are relevant to this Vote, the figures supplied to the committee suggest there has been a drawdown of €19 million from...

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: On a point of clarification, I understand from the briefing notes supplied to the committee that loans were approved to €84 million but that only €14 million were actually drawn down.

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: Only €14 million has been drawn down.

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: The Minister does not really need to answer this. Why is the interest rate set at 4%? While I understand 4% is lower than retail banks rates for SMEs, what I hope that Irish businesses will do with this money is to figure out how to open up new European markets and how to compete and gain market share in France and Germany and across the EU 26 states. However, the subsidised rate of 4% is...

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: The point, however, is that it depends on the rate in the jurisdiction with which ours is compared. I agree with the Minister that a rate of 4% is very attractive relative to Irish lending rates, but that is because Irish businesses are being screwed on lending rates. They are being charged twice what their competitors in Germany and France are being charged. I am not laying that charge at...

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: I will not go through it again. It is relative to our market. On Ardmore, I acknowledge that the Minister has dedicated time to the issue before. She has met the Deputies more than once on this. There will be concerns raised by workers and local enterprises, and we have put these to the Minister before. Will her Department put together a detailed statement potentially addressing...

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: I thank the Minister.

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: I do not accept the Government's position on this at all. The 2020 plan was for 2.5% of GNP and in 2012, we were at 2%. We are now at 1.4% of GNP. We are now going backwards fast. It does not matter that bigger European countries are investing more as the whole point of using a metric such a percentage of GNP is that we can look at our contribution relative to our size. I absolutely...

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: Likewise.

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: Is that not exactly the point? We are more exposed to Brexit than anyone else in the EU. We are more exposed to the US tax changes than anyone else. We have to find competitive and comparative advantage. There are several but one about which I would say there is probably agreement across the committee and the House is that we have to be better than our friends in Europe at research,...

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: I have two main questions on the technology and innovation issues, and then I might speak to the Minister of State, Deputy Breen, about the local enterprise offices, LEOs. I am aware they fall under subhead A, but I might ask the question anyway as they fall under his remit.

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: The first question is slightly philosophical in terms of how we are spending our money. The stated goal of the innovation programme, programme B, worth €356 million, is to foster and embed a world-class innovation system that underpins enterprise development and drives commercialisation of research. Enterprise development and the driving of the commercialisation of research are...

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: I was not finished. Does the Chairman want me to stop?

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: I wish to respond quickly on the 70%. That figure was presented to this committee last year. I did not believe the figure so I examined it in detail. I met Science Foundation Ireland and I looked at how the money is being spent. The 70% is absolutely and categorically not being spent on basic research. The Minister has been given that figure but if he looks into how the money is actually...

Select Committee on Jobs, Enterprise and Innovation: Estimates for Public Services 2018
Vote 32 - Business, Enterprise and Innovation (Revised) (27 Mar 2018)

Stephen Donnelly: I accept that. I have a final two questions. One is for the Minister of State, Deputy Breen, on the LEOs. I was disappointed to see there was no increase in funding for the LEOs in the context of Brexit. Some of the LEOs I have engaged with on Brexit are very impressive. They are offering good literature, conducting courses and are active in reaching out to the local business...