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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...

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

Peter Burke: My Department is the National Competent Authority with responsibility for Export Controls, including Controls on defence-related exports and exports of dual-use goods. Ireland operates Export Controls to the highest standards, in accordance with EU law and international best practice. Dual-use items are products and components, including software and technology, that can be used for both...

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

Peter Burke: In 2022, the Low Pay Commission was asked to examine the issues around retaining or removing the sub-minimum youth rates of the National Minimum Wage and to make recommendations on the subject. The Low Pay Commission conducted an in-depth review of sub-minimum youth rates, and informed by stakeholder consultation and background research from ESRI on the incidence of sub-minimum rates,...

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 Carlow, Kilkenny, Wexford and Waterford are as at 9th July and are set out below: Carlow - 1169 business properties registered and €2,138,692 has been paid out to date. Kilkenny - 1704 business properties registered and €2,663,753 has...

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

Peter Burke: The Directive on Adequate Minimum Wages in the European Union was published on 19th October 2022 and must be transposed by 15th November 2024. The Directive aims to ensure that workers across the European Union are protected by adequate minimum wages allowing for a decent living wherever they work. The Directive includes three sets of measures: 1. One of the goals of the Directive is...

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

Peter Burke: IDA Ireland is now in the final year of its 2021-24 strategy, “Driving Recovery and Sustainable Growth”, and has already achieved or is on track to achieve all targets set across the five strategic pillars of the strategy: Growth, Transformation, Regions, Sustainability, and Impact. The IDA 2024 Mid-Year results announced this week indicate a strong performance across foreign...

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

Peter Burke: I recognise the importance of businesses having a focus on human rights in their operations as there is a strong expectation from society to do so. Businesses have reacted well since Ireland launched its first National Plan on Business and Human Rights (2017 - 2020) towards the end of 2017. Ireland became the 19th state in the world to develop a National Plan. In December 2021, a review...

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

Peter Burke: My Department continues to place significant importance in promoting Ireland as a destination for Foreign Direct Investment (FDI) and we work alongside IDA Ireland to strengthen Ireland’s business environment and FDI value proposition, and to identify and support strategic sectors. In 2024, Ireland ranked fourth place among 67 economies measured for their global competitiveness in...

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

Peter Burke: This matter relates to the safeguard measures imposed by the EU on certain steel products which were initiated in July 2018 in response to the US Section 232 tariffs on steel and aluminium. The US measures applied a 25% tariff on steel imports originating from third countries, including the EU. This action by the US resulted in steel originally destined for the US being diverted to the...

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