Dáil Éireann Debate, Tuesday - 20 June 2017
151. Deputy Stephen S. Donnelly asked the Tánaiste and Minister for Jobs, Enterprise and Innovation the estimated impact of a no deal being reached in Brexit negotiations on the auto part industry here; and if she will make a statement on the matter. [26558/17]
Amharc ar fhreagraThis Government through the Action Plan for Jobs has taken decisive action to support all sectors of the economy recover from the deepest recession we have experienced in recent decades. This sustained focus on job creation has resulted in the creation of over 209,000 additional jobs since 2012. The unemployment rate has declined from over 15% in 2012 to 6.4% in May this year.
The motor industry was impacted during the recession in the same way as all other sectors. The sector has recovered substantially over the last five years. New vehicle registrations reached their highest level since 2009 last year. While the data for the first four months of 2017 indicate a decline of over 9% compared with the same period last year, registrations remain above the levels in 2015 and immediately preceding years. CSO data is also indicating an increase in imported vehicles being registered, in part reflecting the weakening of sterling and consumers seeking value for money.
The outlook for consumer spend remains positive. According to data provided by the Department of Finance, personal consumption expenditure is growing, headline retail sales are up, and the total number of private cars has increased over the year. Overall, consumer spending, employment trends, and taxation receipts confirm that Ireland’s economic fundamentals remain solid. In terms of external demand, the UK, Euro-area, and US economies are expanding. This positive outlook should continue to benefit the motor sector and auto-part industry in their recovery to a sustainable level.
In addition, my Department is undertaking extensive preparatory work and consultations to anticipate the impact of Brexit on key sectors, including the retail sector. As Chair of the Brexit response in my Department, I will continue to ensure we address the challenges and opportunities arising from Brexit.
