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Written Answers — Department of Enterprise, Trade and Employment: Business Supports (9 Sep 2024)

Peter Burke: The Increased Cost of Business Scheme has now closed for registrations. Over 81,000 businesses have registered for this grant scheme. The scheme has a budget of €257 million and as of 6th September, €222.8 million has been paid in first and second grant payments to verified eligible businesses. Local authorities are continuing to process payments once business details have been...

Written Answers — Department of Enterprise, Trade and Employment: Enterprise Policy (9 Sep 2024)

Peter Burke: The White Paper on Enterprise 2022-2030 recognises clustering as a key tool for achieving enterprise policy objectives, including driving innovation, attracting and embedding FDI and developing linkages between multinationals and indigenous firms. It proposes the establishment of a National Clustering Programme (NCP), with a target to fund 5 national cluster organisations by 2025. In March...

Written Answers — Department of Enterprise, Trade and Employment: Trade Missions (9 Sep 2024)

Peter Burke: Each year, Enterprise Ireland and IDA Ireland prepare a programme of trade missions and events which support the goal of securing high-level market access for companies based in Ireland who are aiming to grow business overseas and increase domestic employment and showcasing opportunities for foreign direct investment in support of high-quality jobs and regional development throughout Ireland....

Written Answers — Department of Enterprise, Trade and Employment: National Minimum Wage (9 Sep 2024)

Peter Burke: The Low Pay Commission has a statutory obligation to make an annual recommendation to the Minister for Enterprise, Trade and Employment on the appropriate rate of the National Minimum Wage. I have received the Commission’s report and recommendations on the appropriate rate of the 2025 National Minimum Wage and these recommendations will be considered by Government in the context of...

Written Answers — Department of Enterprise, Trade and Employment: Regional Development (11 Jul 2024)

Peter Burke: The Government's White Paper on Enterprise recognises clustering as a key tool for achieving enterprise policy objectives, including driving innovation, attracting and embedding FDI and developing linkages between multinationals and indigenous firms. It proposes the establishment of a National Clustering Programme (NCP), with a target to fund five national cluster organisations by 2025, and...

Written Answers — Department of Enterprise, Trade and Employment: Business Supports (11 Jul 2024)

Peter Burke: As the Deputy will be aware the Increased Costs of Business Scheme has now closed and payments are currently being made to qualifying businesses by each Local Authority. Since I came into office, I made two changes to the ICOB Scheme as part of the SME package that I announced in May. I reopened the Scheme for an additional two weeks to allow businesses another chance to sign up for the...

Written Answers — Department of Enterprise, Trade and Employment: Enterprise Policy (11 Jul 2024)

Peter Burke: The Government's White Paper on Enterprise, which was published in December 2022, emphasises the importance of FDI to the Irish economy and highlights the importance of the green and digital agendas as drivers of future growth and competitiveness. The latest implementation report, for the second half of 2023 and which I published in May 2024, includes updates on the initiatives led by IDA...

Written Answers — Department of Enterprise, Trade and Employment: Job Losses (11 Jul 2024)

Peter Burke: Where job losses are announced by companies based in Ireland, my first thoughts are with the staff members and their families impacted by such decisions and the supports we can provide in conjunction with our Enterprise Development Agencies and other Government Departments. In relation to the specific companies identified by the Deputy, my Department received a collective redundancy...

Written Answers — Department of Enterprise, Trade and Employment: Business Supports (11 Jul 2024)

Peter Burke: The Government is acutely aware that businesses in all sectors, including the locally traded sector, are concerned about the impact of rising costs. The Increased Cost of Business (ICOB) grant was introduced in Budget 2024 package to help businesses with their increasing overheads. The Local Authorities are administering the ICOB scheme on behalf of my Department and the priority is to get...

Written Answers — Department of Enterprise, Trade and Employment: Climate Change Policy (11 Jul 2024)

Peter Burke: My Department is pro-actively integrating climate action in our activities, and those of our agencies; engaging with businesses in Ireland from microbusinesses to large corporates about the many opportunities for decarbonisation and cost effective efficiencies. The White Paper on Enterprise highlighted the need for an integrated approach to enterprise policy that aligns our growth with...

Written Answers — Department of Enterprise, Trade and Employment: Enterprise Policy (11 Jul 2024)

Peter Burke: My Department published the White Paper on Enterprise in December 2022, which set out Government’s enterprise policy for the period through to 2030. The White Paper on Enterprise details how we will deliver on our ambition of a vibrant, resilient, regionally balanced and sustainable economy made up of a diversified mix of leading global companies, internationally competitive Irish...

Written Answers — Department of Enterprise, Trade and Employment: Climate Action Plan (11 Jul 2024)

Peter Burke: Over the next decade the transition to a low carbon economy will substantially alter the business environment, while improving competitiveness and resilience. 'Integrating Decarbonisation and Net Zero Commitments' has been a key policy priority under the White Paper on Enterprise and as such, my Department promotes and supports decarbonisation across the enterprise base. Government...

Written Answers — Department of Enterprise, Trade and Employment: Enterprise Policy (11 Jul 2024)

Peter Burke: The Institute for Management Development (IMD)’s World Competitiveness Yearbook 2024 ranks Ireland as the most competitive country in the euro area and the 4th most competitive economy in the world (out of 67 economies), a decline from 2nd position last year. Ireland has consistently been placed in the Top 20 most competitive economies globally since 2012. Ireland’s strong...

Written Answers — Department of Enterprise, Trade and Employment: Business Supports (11 Jul 2024)

Peter Burke: The ICOB grant scheme has now closed and payments are currently being made to eligible businesses by each Local Authority. The figures for registrations before 1 May and after 15 May are set out below: Local Authority Total Registrations Submissions prior to reopening Submissions after reopening Carlow County Council 1009 ...

Written Answers — Department of Enterprise, Trade and Employment: Brexit Issues (11 Jul 2024)

Peter Burke: Ireland’s markets for exports of goods and services continue to develop in a positive and sustainable manner despite challenges in the trading environment due to Brexit, the global pandemic and the war in Ukraine. The Central Statistics Office compiles statistical data in relation to Goods Exports and Imports. According to the latest Goods Exports and Imports release from the CSO The...

Written Answers — Department of Enterprise, Trade and Employment: Departmental Schemes (11 Jul 2024)

Peter Burke: My Department is committed to helping Irish businesses with targeted interventions and supports including State supported loan schemes to help address market failures in the area of access to finance and to assist SMEs in times of crisis. Loan schemes developed by my Department since July 2020 include the Future Growth Loan Scheme (FGLS) launched in 2019 at €300m and expanded to...

Written Answers — Department of Enterprise, Trade and Employment: Business Supports (11 Jul 2024)

Peter Burke: The €500 million Growth and Sustainability Loan Scheme is a long-term loan guarantee scheme jointly developed by the Department of Enterprise, Trade and Employment and the Department of Agriculture, Food and the Marine. The scheme is underpinned by resources from the European Investment Bank Group (EIBG) and delivered by the Strategic Banking Corporation of Ireland (SBCI). The...

Written Answers — Department of Enterprise, Trade and Employment: Departmental Schemes (11 Jul 2024)

Peter Burke: The Disruptive Technologies Innovation Fund (DTIF) is a €500 million challenge-based fund established under Project Ireland 2040. It seeks to invest in the development and deployment of disruptive technologies and drive collaboration between Ireland’s world-class research base and industry. A total of 104 projects have been approved in the first six Calls with an approved...

Written Answers — Department of Enterprise, Trade and Employment: Business Supports (11 Jul 2024)

Peter Burke: As part of re-opening the Increased Cost of Business (ICOB) scheme and given the greater impact that increased costs are having on the hospitality and retail sector, as noted in the Department of Enterprise, Trade and Employment and Department of Social Protection joint working paper titled ‘An Assessment of the Cumulative Impact of Proposed Measures to Improve Working Conditions in...

Written Answers — Department of Enterprise, Trade and Employment: Social Insurance (11 Jul 2024)

Peter Burke: Decisions in relation to Pay Related Social Insurance (PRSI) are primarily a matter for the Minister for Social Protection. The sustainability of State Pension and social insurance schemes is an issue for many advanced economies. The increase in social security contributions set out in the Roadmap of Increases to Pay Related Social Insurance from 2024 to 2028 will improve the...

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