Like many areas around the country, Cork has experienced a succession of business closures in the last few weeks. Many businesses have cited the increase in costs, energy inflation etc. The increased cost of business grant was announced as part of budget 2024. In December, the Minister, Deputy Coveney, signed off on an increased package of €257 million. When will the increased cost of business grant be operational and when can businesses start applying for it? I have contacted both local authorities in Cork and they have advised that no detail has been provided to the LEO network regarding the timeline on the process as of yet. If the Minister could provide clarity, it would be much appreciated.

I thank the Deputy for a very timely remark. The increased cost of business scheme will be paid out to all businesses that paid commercial rates last year of up to €30,000, with a maximum pay-out of €5,000. It will all be completed by the end of the first quarter in 2024. The Department of Enterprise, Trade and Employment is working with the Department of housing and local government to make sure there is a system. We are hoping this will not require application. It will just be a payment directly into the accounts of businesses that paid commercial rates in the previous year.