Niall Collins (Limerick County, Fianna Fail)
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57. To ask the Minister for Jobs, Enterprise and Innovation the details of the development of a longer term business development loan scheme which would assist firms in long term investing for a post-Brexit environment. [45592/17]

Niall Collins (Limerick County, Fianna Fail)
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58. To ask the Minister for Jobs, Enterprise and Innovation if a formal request was made to change State ceilings for grant aid to enterprises over a three year period further to her confirmation that in autumn 2016, officials from her Department initiated discussions with the Directorate General for Competition to sensitise the commission to potential difficulties likely to be encountered by firms relating to Brexit. [45593/17]

Niall Collins (Limerick County, Fianna Fail)
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59. To ask the Minister for Jobs, Enterprise and Innovation if the rescue and restructure scheme will comply with State ceilings for grant aid to enterprises made over a three year period following her confirmation that her Department recently filed the scheme for approval under state aid rules with the EU Commission; and the direct exchequer funding that will be allocated to the scheme. [45594/17]

Frances Fitzgerald (Dublin Mid West, Fine Gael)
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I propose to take Questions Nos. 57 to 59, inclusive, together.

In our engagements with both EU Commissioners and Ministers from other Member States since the UK decision, Brexit has been a central part of the discussions at these meetings. Officials of my Department have held discussions with DG Competition on the potential difficulties likely to be encountered by Irish firms from the Brexit referendum result, with the most recent meeting taking place this week. I also informed Michel Barnier, the EU's chief Brexit negotiator, of these issues when I met him in Brussels on 10th July 2017. These discussions will continue at the highest levels to address all relevant issues relating to any proposals emerging from our work with industry.

I recently announced a Brexit Loan Scheme, which will provide affordable working capital financing to Irish businesses that are either currently impacted by Brexit, or will be in the future. The new Scheme will be delivered by the Strategic Banking Corporation of Ireland (SBCI) through commercial lenders to get much needed working capital into Irish businesses.

The new Brexit Loan Scheme aims to make up to €300 million available to SMEs and Small Mid-Caps. The scheme will be open both to State Agency clients and those businesses that do not have any relationship with State Agencies.

The total cost to the exchequer will be €23 million. My Department will contribute €14 million, the Dept. of Agriculture, Food and the Marine will contribute €9 million. SBCI will use this budget to leverage the overall fund of up to €300 million.

My Department is also scoping the development of a longer-term Business Development Loan Scheme which would assist firms in long term investing for a post-Brexit environment.

The State aid implications of the potential longer term are being worked through. It is anticipated that this Scheme would be provided under General Block Exemption Regulation rules, meaning My Department could bring the scheme into place without prior notification to the Commission.

Further details of this scoping exercise will issue in due course.

A lot that can be done within the existing EU State Aid Framework. We are confident that the measures currently in development will be State Aid compliant, and we are taking steps to ensure that we can use all options available under the State aid framework to provide support to companies impacted by Brexit.

Should issues arise that require an approach that does not fit within the existing rules, we will move quickly to advance this with the EU Commission.