Skip to main content
Normal View

Brexit Supports

Dáil Éireann Debate, Thursday - 15 November 2018

Thursday, 15 November 2018

Questions (100)

Billy Kelleher

Question:

100. Deputy Billy Kelleher asked the Minister for Business, Enterprise and Innovation the number of participants on the rescue and restructuring scheme since it was established, in tabular form; and the amount drawn down to date. [47651/18]

View answer

Written answers

At the outset, I want to assure the Deputy that my Department and agencies are working proactively with Brexit exposed firms to support their contingency planning and business transformation investments to prepare for Brexit potential impacts, to protect jobs and to build resilience, so that they do not reach the stage of needing rescue support.

The rescue and restructuring scheme was put in place for Undertakings in Difficulty and operates under the EU Rescue and Restructuring Guidelines. Under the scheme, an undertaking is considered to be in difficulty when, without intervention by the State, it will almost certainly be condemned to going out of business in the short or medium term. This scheme was put in place as it was considered prudent to have contingency measures in place so that my Department can respond swiftly to changing circumstances as necessary. However, I did not, nor do I expect that there will be a need for the State to provide rescue/restructuring aid to companies as there are supports in place that enterprises can avail of before they reach the point where they are almost certainly at the stage of being in severe difficulty and at risk of going out of business. This scheme is part of a belt and braces approach to supporting enterprise.

To date, no enterprise has sought rescue and restructuring aid.

Top
Share