Brexit business supports
Deputy Broughan asked whether Brexit supports for businesses and jobs would continue in the next budget and whether a crash-out scenario had been costed. The Minister said substantial supports are already in place and work on preparing for hard Brexit is ongoing.
In the past few days the prospect of a crash-out Brexit has somewhat receded. In the budget to be announced on 8 October can we expect to see the same level of support for Irish businesses and jobs, which was around €300 million, to be continued in 2020? Despite some recent more hopeful signs, has the Minister's Department costed the worst-case scenario of a crash-out Brexit?
Comment on this
For the past two years I have been working with the Minister for Finance, Deputy Paschal Donohoe, to ensure Ireland will have the necessary supports in place to help businesses to prepare for a hard Brexit. I continue to work with the Minister in preparation of budget 2020. Significant funding has been put in place to support Irish businesses as they prepare for Brexit. In 2018 Enterprise Ireland provided €74 million in grant aid for firms that would be impacted by Brexit. Two funds are available - the Brexit loan scheme fund of €300 million and the future growth loan scheme fund of €300 million. The Deputy knows that I am acutely aware of the importance of protecting jobs. I have established an early warning co-ordination process for firms experiencing difficulty. Working with the Minister for Employment Affairs and Social Protection, Deputy Regina Doherty, and the Minister for Education and Skills, Deputy McHugh, the Intreo offices stand ready to work with employers who are experiencing short-term difficulties. I welcome the announcement made by the European Commission that it proposes to use emergency funds to help countries badly hit by a no-deal Brexit. It follows the engagement between Ireland and the European Union on the matter.