Dáil Éireann Debate, Tuesday - 2 November 2021
101. Deputy Bernard J. Durkan asked the Tánaiste and Minister for Enterprise, Trade and Employment the extent to which incentives continue to be made available to encourage the manufacturing and services sectors given the impact of both Brexit and Covid-19; if new measures are planned or currently in hand; and if he will make a statement on the matter. [52832/21]
View answerBudget 2022 recognises that many businesses are in need of assistance as we continue to reopen the economy and society in general.
My Department, working through our agency Enterprise Ireland and with the Local Enterprise Offices, is working with manufacturing and internationally traded services companies to help them stabilise, reset and recover. To date, for example, €238 million has been approved under Enterprise Ireland’s Covid-19 supports. The Covid-19 pandemic has also seen the agency work beyond its client base. In 2020, Enterprise Ireland onboarded over 1,200 new companies onto its client management system, a near 70% increase on 2019.
Overall, my Departments core budget has increased by €103 million or 13.2% on Budget 2021. This is a record core allocation for the Department and will significantly bolster the ability of the Department, working with its Offices and Agencies, to help businesses to rebuild and grow after the pandemic and the impacts of Brexit.
Government are extending the EWSS until April 2022 at a cost of up to €1.4 billion and a targeted rates waiver to help businesses get back on their feet and have ensured that low-cost Government backed loans will remain available.
A number of other significant measures have been introduced in Budget 2022 in order to future-proof our SMEs on their growth journey such as the expansion of the Employment and Investment Incentive Scheme (EIIS), the extension of the Small Start-Up Companies Relief, the new Digital Games Tax Credit, a new €90 million Innovation Equity Fund as well as increased resources for the Local Enterprise Offices, IDA and Enterprise Ireland. We are also providing €20 million to help Irish enterprise decarbonise and go digital and there will be a new call for applications for the Disruptive Technologies Innovation Fund.
In order to increase the capacity of our enterprises to deal with cross-border issues, an additional €1.2 million has been provided for Intertrade Ireland to respond to the increased complexity of cross-border trade post Brexit, which is a 15% increase in its core capital allocation. Funding will also be provided for a new service which will ameliorate supply chain issues for businesses operating on both sides of the border.
These measures are all designed to kick start new areas of economic growth, providing long-term, future-proofed jobs and increasing capacity in all sectors of our economy.
