Dáil Éireann Debate, Tuesday - 25 July 2023
380. Deputy Robert Troy asked the Minister for Enterprise, Trade and Employment if he will publish the report commissioned by his Department on establishing an export guarantee scheme and if he will consider establishing an export guarantee scheme for businesses that export. [36059/23]
View answer394. Deputy Robert Troy asked the Minister for Enterprise, Trade and Employment if he will consider establishing an export credit guarantee scheme; and if he will make a statement on the matter. [36575/23]
View answerI propose to take Questions Nos. 380 and 394 together.
Over the last two years, with the assistance of an external export credit insurance expert, my Department has conducted an internal review to assess the potential need for a state-backed export credit insurance scheme. This review involved engagement with trade credit insurers, industry and other relevant stakeholders such as Enterprise Ireland and IDA Ireland.
Following this internal review, and on reviewing Ireland's strong trade export statistics over the last ten years, it was found that there was no clear demand or need for State intervention in terms of export credit insurance.
This internal review also concluded that sufficient levels of export credit insurance is available from the private market.
Unfortunately, as this report is based on information that was gathered, in confidence, by this industry expert, my Department will not be in a position to release this report.
Officials in my Department regularly explore ways to assist businesses and to create an environment that stimulates their growth. However, it is important that Government intervention is focused on those areas where there is a market failure.
My Department, working with Enterprise Ireland currently offers a range of supports for exporting businesses, such as training, in-market support, and trade missions. There are also a number of schemes which my Department has developed, working through SBCI, which provide financing support for businesses, including exporting businesses, including the Ukraine Guarantee Scheme and the Sustainability and Growth Loan Scheme, which will be launched in Q3.
Exports and international trade will remain central to Ireland’s growth model and economic strategy in the years to come.
As outlined in the White Paper on Enterprise, we have set the ambition of expanding our exporting base with 2000 additional exporting companies, and 50% more large Irish exporting companies, by 2030. To accomplish this, we will focus on enhancing productivity and developing an integrated system-wide approach to accelerating start-up growth and scaling.
In addition, the extension of the LEO mandate to work with prospective exporters, that have grown to between 10 and 50 employees, will bridge an existing gap and better integrate micro enterprises into the scaling loop.
