Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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532.To ask the Minister for Enterprise, Trade and Employment the full-year cost of introducing three new bank holidays; and if he will make a statement on the matter. [33751/24]

Peter Burke (Longford-Westmeath, Fine Gael)
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The Department of Finance operates a pre-budget costings service. The procedures for availing of this service are set out in a letter dated 1 July 2024 from the Secretary General of the Department to all recognised parties and technical groups in Dáil éireann. Deputies are encouraged to engage with this service in relation to requests for costings at this time.

In a report published earlier this year, my Department, in collaboration with the Department of Social Protection, assesses the cumulative impact of changes to working conditions. One of the areas that this report examines, is the costs and benefits associated with the introduction of an additional public holiday. This assessment draws on the available international literature, and based on Ireland’s sectoral composition, the report estimates that a single additional public holiday would cost €355 million in 2023, representing approximately 0.09% of Gross Value Added (GVA) or 0.13% of Modified Gross National Income (GNI*).

The impacts of an additional public holiday are far-reaching, with implications for business costs, productivity, competitiveness, and other issues across multiple sectors. It can be argued that adequately spaced public holidays present only minimal industrial disruption. An additional public holiday can also lead to an increase in consumption, benefitting sectors such as retail and hospitality, and presenting significant well-being benefits to society, including increased recreational opportunities and reduced stress. In terms of the sectoral effects, those sectors where processes are not interrupted or can be resumed easily – such as the services sector, would be among the least affected, while manufacturing sectors would be impacted to a greater extent.