Cormac Devlin (Dún Laoghaire, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

14. To ask the Minister for Enterprise, Trade and Employment his views on calls for a significant and immediate package of emergency energy supports for businesses to be made available under the new EU state aid framework. [45162/22]

Leo Varadkar (Dublin West, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I think it is fair to say that this Government has not been found wanting when it has come to helping businesses get through difficult periods. The multi-billion euro financial assistance provided by Government during the pandemic was unprecedented, whether it was help with businesses’ wage bill so they could keep staff on, their overheads, the introduction of a cheaper, easier way to restructure and survive than examinership; the commercial rates waiver, or the reduction in VAT for the hospitality sector.

I'm very conscious of how worried businesses are now going into the winter and their concerns around energy costs. Unfortunately, Putin’s invasion of Ukraine is having massive consequences for the whole of Europe, not just Ireland.

My Department is working with the European Commission to allow us to grant state aid to certain businesses to help them with additional costs (both liquidity and energy costs) due to the Russian war on Ukraine.

We are working on a range of proposals to help businesses with rapidly rising energy prices and I hope to be able to make a positive announcement about that in the Budget.

We’ll also be looking to raise awareness around energy efficiency, helping businesses reduce the amount of energy they use in the first place and improving take-up of the approximately 20 different schemes we already have in place for business.

For example, in June we announced a new €55 million ‘Green Transition’ fund to help businesses move away from fossil fuels and towards more sustainable, cheaper alternatives.