I welcome the announcement yesterday in the budget for businesses and the funding the Minister, Deputy Coveney, has secured for the €250 million grant to be given to businesses in the first quarter of 2024. This grant will be half of the rates bill that they paid in 2022, up to €20,000. Of the €20,000 they had been paying in rates, they will be able to claim half of that back in the first quarter of 2024. We have spoken to businesses. The important thing they told us was around the challenge with some of schemes that had been set up and the difficulty in applying for things like this. In this case they will have to do nothing. It will be given straight back to them and there is no application that has to be put forward by the business. It is a direct payment that will be given to them at a time when costs are most difficult for businesses. This is in recognition of the increase in the minimum wage. That will affect a lot of small to medium-sized businesses, including in places in Tipperary where I am from. Along with other schemes that have been announced with the Department of Enterprise, Trade and Employment, the local enterprise offices, and funding towards IDA Ireland, for the small to medium-sized businesses this is a recognition of the challenges they have over the next number of months.

Today's debate has focused on the budget. I will follow on from a lot of the points made by Senator Ahearn. My points are on the basis of my visit this morning to the Dundalk Chamber of Commerce business breakfast. It is a successful event held on the morning after every budget. More than 250 people attended today from a whole variety of businesses in Dundalk to hear a presentation on the business aspects of the budget. This reminds me of how far this country has come in the past ten years in really building that strong economy. It is because we were able to build a strong economy over the past decade that we now see budgets like this.

It really hits home when we see that the minimum wage has been increased for the tenth, if not the 11th, year in a row. It has gone from an all-time low of €7.60 in December 2010 to an all-time high of €12.70. It is important to acknowledge that the driving force of this country is the economic engine and the economic success story we have had, particularly in the past three or four years under the Government with regard to various issues such as Covid. It is very important to see such a strong business emphasis put on the budget. As Senator Ahearn said, it will back small and medium businesses and ensure our small country on the periphery of the European Continent continues to punch above its weight in attracting a level of business support and jobs into this country. Long may it continue. Perhaps at some stage we will be able to have a debate on the general state of the Irish economy and some of the measures the Department of Enterprise, Trade and Employment and the Minister, Deputy Coveney are taking to continue to attract a large number of jobs into our country to make sure that employment is at the highest it has ever been.