Louise O'Reilly
Question:154. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment the current budget for InterTradeIreland; and the estimated cost of increasing its budget by 10%, 20%, and 50%. [22197/23]
View answerThursday, 11 May 2023
Questions (154)
Written answers
InterTradeIreland (ITI) is one of six North-South implementation bodies established under the Good Friday Agreement. It operates under the oversight of the NSMC and of its sponsor Departments, the Department of Enterprise, Trade & Employment and the Northern Ireland Department for the Economy. ITI works to promote trade and business on an all-island and cross-border basis. Through its range of programmes, the Body continues to support and develop cross-border trade and businesses as they face the challenges that have emerged in recent years, including Brexit and, more recently, Covid-19.
ITI is jointly funded by my Department and the Department for the Economy on a 2:1 ratio. For 2023 my Department has allocated a total of €11.586m to support ITI’s work. This closely matches its allocation in 2022 and will allow the Body to continue to deliver its effective work to grow trade across the border and assist SMEs to scale their business and address challenges in the new trading environment. I have set out below the cost of increasing the Body’s budget at the different levels you have requested:
10% -
€12.7448m
20% -
€13.9032m
50% -
€17.379m
As ITI is under the joint oversight of both my Department and the Department for the Economy, its budgets require approval from both Departments. This is normally set out in advance in InterTradeIreland’s three-year Corporate Plans. In its draft Corporate Plan for 2023-25, ITI anticipates an overall budget of approximately €16.86m in 2023, €17.44m in 2024 and €18.6m in 2025.