Dáil Éireann Debate, Tuesday - 24 July 2018
1273. Deputy Niamh Smyth asked the Minister for Business, Enterprise and Innovation the plans being put in place to protect businesses along the Border in view of Brexit; and if she will make a statement on the matter. [34062/18]
Amharc ar fhreagraI want to assure the Deputy that the Government's work on preparedness at all levels and for all outcomes is well advanced, focusing in particular on our trade with Britain. Brexit presents the most significant economic challenge of the past 50 years for businesses in all parts of the country and my Department and its agencies are working hard to ensure that potentially impacted firms are taking the necessary steps to prepare and mitigate risks and to take advantage of potential opportunities.
My objective is to sustain the progress made in terms of job creation and economic recovery. On the broader employment aspect, while the Border region has a relatively low unemployment rate of 4.4% at Q1 2018, I am conscious that more can and needs to be done. The North East/North West Regional Action Plan for Jobs will also boost enterprise and job creation across the Border regions. In 2017, Enterprise Ireland jobs increased by 7% in the North West, and by 5% in the North East, while IDA jobs grew by 4% across the region as a whole.
I am very conscious of the potential exposure of the North West and North East Regions to Brexit and the deep links with local economies on both sides of the Border. The North West and North East already have a special status in terms of State Aid rules. My officials are continuing to engage with colleagues in the European Commission as part of a State Aids Technical Working Group as to how best to ensure we can support the transformation needed at firm level to diversify trade to third countries and protect rural economies.
I was delighted to attend and speak at the Enterprise Ireland and InterTradeIreland Brexit Advisory Clinic in Cootehill, Co Cavan in March of this year. These clinics provide the opportunity for companies that may be affected by Brexit to take immediate action to address their exposure.
A major initiative which my Department recently introduced for all Brexit impacted firms is the €300 million Brexit Working Capital Loan Scheme, under which accessible finance is made available to businesses at favourable terms.
Clearly firms in the Border area are more likely to be impacted by Brexit and should seek to avail of this funding and of the applications for eligibility for the scheme approved so far, 17% have come from the border region. I am also working with my colleagues the Minister for Agriculture, Food and the Marine and the Minister for Finance on a proposal for a longer-term Investment Loan Scheme to help businesses strategically invest in the long term.
More generally, the agencies supported by my Department are continuing to offer a comprehensive range of supports and guidance to firms in the Border area, as well as elsewhere. The six LEOs in the Border region also provide additional Brexit supports which are focused on capability building, market diversification, driving increased competitiveness, and promoting innovation so that LEO client companies can better cope with the challenges arising on foot of Brexit and to explore any opportunities presented. In addition, the LEOs work with their Northern Ireland counterparts under the EU Co-Innovate Programme.
In summary, I am committed to support the agencies under my remit to continue to respond to the needs of companies affected by Brexit to protect jobs and build resilience across the country.
