Results 1,061-1,080 of 40,897 for speaker:Simon Coveney

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: The Deputy will see progress on this in the next fortnight.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: The economy is more balanced than it has ever been before, but we still have work to do. There is still significant reliance on about ten large multinationals for a huge amount of our corporate tax revenue in Ireland. They are global players and they make an extraordinary contribution to the Irish economy through employment and corporate tax receipts, but they are such huge players in the...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: I hear the Deputy's point. I do not think we should downplay the importance of multinationals in Ireland. We are a globalised economy and the multinational sector makes a phenomenal contribution to both our tax take and employment opportunities in Ireland. My priority is and will continue to be building Irish companies, SMEs and family businesses and helping them and supporting them to...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: I welcome that the Deputy is talking my language. It is exactly what we need to do. There is a history in Ireland of companies growing to a certain ceiling and then effectively getting bought out by large global brands. Entrepreneurs make a significant amount of money cashing out and then looking to set up another business. In the enterprise strategy, we want to see many more Irish...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: That is where we have to have State intervention, if necessary, in the form of Enterprise Ireland supports. We also need a well-run funding market in Ireland for business capital, business angels, and a range of other supports. We also need mentoring to help companies to move past that ceiling.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: Yes.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: First, as would be expected, we are currently examining the issue. We will publish a strategic plan regarding the use of finance as a catalyst to develop scaling ecosystems towards the end of the second quarter of this year, which is effectively in the next couple of months.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: Yes, we are in the second quarter but not yet at the end of it.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: Yes, we are.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: If we look at Enterprise Ireland's future direction in terms of scaling, we are commencing a pilot programme focused on building supports for very high-potential scaling companies. We are driving several top, high-potential early-stage companies through seed and venture funds and direct, pre-seed and seed investment endeavours. We are focusing on accessing the ability to increase the number...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: This is not a small target.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: By the way, this is absolutely doable. If we look at the pace of growth in the Irish economy and if we consider the management skills in multinationals that are Irish-led now, at home and abroad, there is no reason we should not be really ambitious in this area. There are many top managers in non-Irish multinationals today who are growing and building international businesses. We want to...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: If the committee has a position on this matter, I would like to hear it. I do not want to give a response off the cuff to what is quite a technical question. I will happily come back to the committee regarding the current state of play concerning the Government's position in this regard. If the committee has a settled position on this topic, it would be useful for us to hear it.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: I do not have information on a detailed position here in front of me-----

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: I can certainly send it on to the committee.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: Okay. We will obviously have a position on this matter, but I would like to check with our team and liaise with the committee.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: First, a directive has already been agreed around the corporate sustainability reporting directive, CSRD. That places a more extensive requirement on larger companies that employ more than 500 people in terms of the timelines around when it has to be implemented. Effectively, however, we are moving towards a situation where financial and sustainability reporting are moving into the same...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: Just on that point, I met representatives of the Irish Exporters Association last night for three hours and I took questions on this issue. We had a dinner, a speech and about one and a half hours of questions. I am, therefore, very much alive to the concerns expressed in this regard. I know representatives of the group were here with the committee in recent weeks. We will work with them...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Engagement with the Department of Enterprise, Trade and Employment (10 May 2023)

Simon Coveney: It is very important. The new EU unitary patents system will enable uniform patent protection across all participating EU member states by way of a single patent application and will provide a centralised platform for Europe-wide patents litigation before the Unified Patent Court. My Department's officials are advancing preparations for the constitutional referendum on the agreement on the...