Brendan Smith (Cavan-Monaghan, Fianna Fail)
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400. To ask the Minister for Enterprise, Trade and Employment when approval will issue to local authorities to issue payments to the remainder of outstanding applications under the 2024 increased cost of business scheme which were due to be issued before the end of 2024; if this matter will be finalised without further delay; and if he will make a statement on the matter. [3554/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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The Increased Cost of Business (ICOB) scheme closed on 29th May 2024 following an extension to the deadline to allow those who missed the first closing date a second chance to register. All eligible businesses were paid the ICOB grant in 2024 and the scheme is now closed.

The Power Up grant opened for registrations on 24 October 2024 and was aligned with the ICOB scheme in order to get payments out to eligible businesses before the end of 2024. In total, the Increased Cost of Business and Power Up grant schemes paid out over €400 million in 2024.

A small cohort of businesses were scheduled for payment in 2025 and those payments are currently being processed.

My Department is aware of issues that have arisen during the registration period , in particular, in relation to businesses that were ineligible for the grant due to incorrect classification of their business type while registering for ICOB. The Department is currently reviewing the issues that have arisen and will consider next steps in consultation with the Department of Public Expenditure, National Development Plan Delivery and Reform and the local authorities.