Dáil Éireann Debate, Thursday - 9 December 2021
173. Deputy Bernard J. Durkan asked the Tánaiste and Minister for Enterprise, Trade and Employment the extent to which he expects the economy to remain competitive notwithstanding the impact of Covid-19, Brexit and inflation; and if he will make a statement on the matter. [61062/21]
Amharc ar fhreagraThe maintenance and improvement of Ireland’s competitiveness position is a key economic priority for Government especially in the uncertain environment of Covid-19, Brexit and rising prices.
The fact Ireland is such an open economy means it is important that we remain competitive when compared to peers as this will help ensure continued and sustainable economic growth over the coming years
At the heart of Ireland’s national competitiveness is creating an environment in which Irish businesses are able to compete successfully in international markets.
The National Competitiveness and Productivity Council (NCPC) published Ireland’s Competitiveness Challenge 2021, which has identified four broad medium- and long-term strategic challenges aimed at enhancing Ireland’s competitiveness and productivity performance.
The Government has officially responded to all 20 of the recommendations that were set out by the NCPC in its report, indicating the range of actions and reforms currently or soon to be in train in response to the recommendations. These actions will support Ireland’s competitive position compared to its peers in coming years.
In addition, there is a need to capitalise on the opportunities Covid-19 has created which have the potential to enhance Ireland’s competitiveness in the long term, such as the acceleration of digital adoption and the possibility for more flexible working.
To take advantage of such opportunities the Government has committed to addressing the digital divide and enhance digital skills as part of the Economic Recovery Plan along with the publication of the National Remote Work Strategy earlier this year.
Brexit has also brought into sharp focus the need for Irish based enterprise to step-up their productivity and innovation performance and for Ireland's policy system to be agile in responding to the competitiveness challenges.
For example, in my own Department the Regional Enterprise Transition Scheme Feasibility Funding supports detailed evaluation of early-stage opportunities for new impactful regional enterprise development projects along with grants.
This scheme along with others, such as the SBCI Brexit Impact Loan Scheme and the Microfinance Ireland Brexit Business Loan, will improve the capability and competitiveness of regional enterprises and encourage entrepreneurial activity among our SME community, ultimately reinforcing the competitiveness of the Irish economy.
The measures outlined above taken by the Government mean we can be confident the Irish economy will maintain and improve its competitiveness position compared to its peers in the coming years, despite the challenges we and other economies are facing.
