Barry Ward (Dún Laoghaire, Fine Gael)
Link to this: Individually | In context | Oireachtas source

76. To ask the Minister for Enterprise, Trade and Employment the position regarding Ireland’s competitiveness relative to other EU countries; his views on whether our competitiveness is sufficient in that context; and if he will make a statement on the matter. [24713/25]

Peter Burke (Longford-Westmeath, Fine Gael)
Link to this: Individually | In context | Oireachtas source

It is important to emphasise that Ireland remains a competitive country. In June 2024, Ireland was ranked as the most competitive country in the euro area, and 4th globally, in the IMD World Competitiveness Rankings. According to these rankings, Ireland continues to perform strongly across Government Efficiency (6th) and Business Efficiency (3rd), while our Infrastructure performance (17th) continues to lag compared to other pillar areas. In the coming weeks it is expected that IMD will publish its 2025 World Competitiveness Rankings.

While Ireland's economy remains resilient, with full employment and a positive fiscal balance, significant challenges persist, particularly in the areas of business costs, infrastructure development, and labour market constraints. Over the coming weeks, the National Competitiveness and Productivity Council will finalise and submit its Ireland’s Competitiveness Challenge 2025 report to Government, which will outline the key areas where Ireland could seek to improve its performance and competitiveness position.

The importance of our competitiveness, as an open economy, has been underscored by the recent international economic uncertainty. In recognition of these challenges facing Ireland, the current Programme for Government committed to the publication of a new whole of Government Action Plan for Competitiveness and Productivity by January 2026. The Government has, however, accelerated this timeline, with a draft of the Plan to be considered by Ministers at a Competitiveness Summit this July. This plan will cover industrial policy, reducing the cost and regulatory burden on business, investing in infrastructure, digital regulation and reform, energy reform, international trade and research and development, and innovation. My Department is undertaking consultation with stakeholders including other Government Departments to ensure that the Action Plan is evidence based and reflects the issues impacting Ireland’s competitiveness.

Given the heightened level of international uncertainty, the overarching objective of the Action Plan will be to focus on matters within our control by way of policy changes which can make the domestic Irish economy more competitive and resilient to economic shocks.