Dáil Éireann Debate, Tuesday - 16 October 2018
336. Deputy Billy Kelleher asked the Minister for Business, Enterprise and Innovation if she will list each Brexit measure committed to in her Department following budget 2019; and the exact financial allocation for each such measure in tabular form. [42534/18]
View answerThe Expenditure Report 2019 set out the summary capital and current allocations for my Department in 2019. The gross allocation of €950.2 million for my Department in 2019 as set out in the Report represents an increase of 9.1% on the Department’s 2018 allocation of €871million and includes an increase in our capital funding from €555m to €620 million in 2019 and also an increase in our current funding from €316 million to €330.2 million next year. The increased allocation being provided to my Department will enable me to roll out a number of initiatives in 2019. These initiatives which are fundamentally connected are focussed on Getting Business Brexit Ready, Regional Development and Innovation.
Insofar as the specific Getting Business Brexit Ready Initiatives are concerned, the new initiatives proposed to be funded in Budget 2019, which build upon the Brexit focussed initiatives in 2017 and 2018, include:
- the launch of the new €300m Future Growth Loan scheme which addresses a specific lack of availability of finance to businesses, particularly SMEs, of loan terms longer than 5-7 years
- €1m in additional funding for Intertrade Ireland which will enable it to meet the growing demand from businesses in border regions in its existing programmes, develop initiatives and support firms affected by Brexit
- €5m additional funding to the Local Enterprise Offices to enable them to expand the range of supports to indigenous enterprises across the various sectors to ensure that they are informed and have plans in place to manage the new trading relationships on the island and with the UK more generally, including the provision of a new customs training programme for all businesses, exporters and importers, to be rolled out in conjunction with Enterprise Ireland
- €8m additional for Enterprise Agencies, Regulatory Bodies and the Department to provide additional staffing and non-staffing related resources to meet the Brexit challenge and progress the Global Footprint Initiative.
However, the definitive financial allocation for each of the aforementioned initiatives will be determined as part of the 2019 Revised Estimates Volume (REV) process which will be conducted in the weeks ahead. It is expected that Rev 2019 will be finalised and published in early December 2019.
As advised, the additional funding being provided to my Department in Budget 2019 will also allow me to roll out a number of new and important initiatives in the areas of regional development and innovation. These further new initiatives are complementary to the aforementioned Brexit specific initiatives and are also integral my Department efforts in Getting Business Brexit Ready. I would also advise the Deputy that aside from the additional resources secured through Budget 2019, my Department and its Agencies have, since the decision of the UK to leave the EU, continued to focus our existing resources on developing our response to the Brexit challenge.
