The programme for Government sets out a strong enterprise and fiscal framework that prioritises economic and employment growth. Last year, the Irish labour market saw sustained employment growth and rising participation with a record number of persons at work at 2.8 million people so our policies are working and our economy is resilient. The latest data to hand shows that our labour market was better than many had expected in the latter part of 2025 with the monthly unemployment rate revised down to 4.7% in December. Other data, such as CSO information on employee payrolls, also shows positive momentum at the end of 2025 with employee numbers up 2%. However, I do expect that activity levels will moderate through this year in part due to international conditions but also given that the labour market is close to full employment. My Department is continually monitoring labour market conditions and several of our recent initiatives will be central to supporting the broader economy not least our ambitious investment plans and the action plan on competitiveness and productivity I published last year. The Government remains fully committed to improving our competitive position and adding more jobs in the future and the action plan has a range of measures to build a more resilient economy. Another important initiative on the labour market front will be the successor strategy to Pathways to Work 2021-2025, which is overseen by the Department of Social Protection. That Department has recently concluded a public consultation on this as the Government looks to develop a new successor strategy. In respect of the high paid jobs being centred on major urban areas, it is important to stress this Government’s commitment to balanced regional development. Over the past number of years, we have seen strong regional development with intensive employment growth post-pandemic. Since the pandemic, numbers at work have increased by close to one fifth - 440,000 persons. In fact, budget 2026 highlighted in particular the spread of employment growth with job gains in every region in marked contrast to previous employment expansions. For example, between 2013 and 2019, growth was disproportionately driven by Dublin.
Sentiment score: 0.44
I would point out that the gold standard for us as politicians and our citizens is the CSO. It has pointed out that all 13 sectors of the economy are growing equally and that the gross average industrial wage is over €1,000 per week, which is a 45% increase since 2015. We have seen 2,700 new jobs in the west over the past year, which means 2,700 families have an additional income this year compared to last year. It also means that we are working to ensure we have very strong clients based on budget 2026. Look at Hollister in the Deputy's own area. Look at AbbeVie, Coca-Cola, Fanta and Baxter. These are huge multinational clients providing high-value jobs in the west. The policies in budget 2026, particularly our research, development and innovation tax credit, will deliver high-quality, high-paid jobs and that is what this Government is committed to doing.
Sentiment score: 0.22
The data I am quoting relates to quarter 3 of 2025, so this is the up-to-date data regarding new high-quality jobs going to the west. The figure is 2,700. There are 3,900 new jobs in the midlands while the figure in the south west grew by about 4.7%, so all sectors are growing, all component parts that make up our economy are growing and our wages are growing. Critically, the key point in the CSO annual return in December was that this is the first time that we have seen real wage growth in our economy and that the growth in wages outpaced the rate of inflation, which means people have more purchasing power. The data is very clear for everyone to see. We want to continue on the basis of budget 2026 to bring more high-quality jobs to rural areas. Our IDA strategy is very focused on that with 55% going to the regions. This will be key to delivering that over the next five years and we are very much committed to doing that.
Sentiment score: 0.30
I thank Deputy Conway-Walsh for her important question. The Government recently established the Cost of Business Advisory Forum and published the action plan on competitiveness and productivity, both of which are commitments in Programme for Government: Securing Ireland’s Future. The establishment of the Cost of Business Advisory Forum delivers on the commitment regarding supports for small businesses, enterprise and industries. The forum is a tripartite collaboration bringing together various representative bodies spanning multiple sectors as well as SMEs. The purpose is to jointly consider those issues that can lead to higher costs for businesses in Ireland, any associated regulatory or infrastructural issues that merit a changed approach, and steps that could be taken to mitigate these issues. The first meeting of the advisory forum took place in June. Numerous organisations representing Ireland’s enterprise sector, including SMEs, were joined by officials from a variety of State agencies and Government Departments. The second meeting, which was the forum’s first thematic meeting, took place in July and focused on energy costs and security of supply. Other thematic meetings included a meeting on insurance costs in August, a meeting on regulation and planning in September, November’s meeting focused on water services, the meeting in January of this year focused on legal costs, and a meeting on tax reporting and compliance took place yesterday. The forum has met regularly over the past eight months, with each meeting devoted to a distinct thematic area of concern for businesses. There are two outstanding meetings. The last thematic meeting will be on banking, payments and financial services and will take place on 25 March. The last meeting of the forum will focus on members' feedback in relation to the final report to the Government and is scheduled for the first half of 2026. The focus of the action plan on competitiveness and productivity is on the key actions that can be taken to strengthen Ireland’s competitiveness and productivity which in turn will lead to improvements in our economic performance. The action plan was published on 10 September 2025 and contains 85 actions across six themes, including the third theme, which focuses on creating and scaling more SMEs.
Sentiment score: 0.37
I focus on evidence. I refer, for example, to the measures that were taken in budget 2026, such as the reduction in the VAT rate for the hospitality sector. We are giving the sector 4.5% on its margin to assist with its costs and we are saying that we need 7% growth right across the tourism sector under our strategy, A New Era for Irish Tourism. We have also reduced energy costs with the 9% VAT rate on gas and electricity. We have increased the loan limit available from Microfinance Ireland to €50,000 for low-cost loans into the sector and will be coming forward with a working capital programme to succeed the growth and stability loan of €500 million, which was utilised late last year. We also increased the innovation voucher to €10,000. Critically, we reduced a host of conditions for sustainability grants like the energy-efficiency scheme, which gives €10,000, or 75% of the cost, to small businesses like local shops and butchers. Such small businesses on the high street are so important to the fabric of rural life. We will keep doing that and keep working to ensure we do our best to reduce those key costs for businesses.
Sentiment score: 0.45
I am very acutely aware of the cost of doing business. That is why we have brought forward a forum, it is why we are going to take action in this regard and it is why we have taken a suite of measures across budget 2026. We know what is happening in the Irish economy; 2.82 million people are employed in our country. That is a record. We know that the average wage is €1,000 per week. That is a record; it is up 45% since 2015. We know that all 13 sectors of the economy that are measured in the CSO data are growing. That is a record right now in this country. Our tax revenue coming in to resolve the infrastructural deficits we have is at a record level. I would point out that the Deputy has opposed every attempt I have made to stabilise small businesses, from subminimum rates to the living wage to sick days - every area that drives costs for business. If you ask a small family business what its biggest driver and challenge is, you will be told that it is wages. The biggest challenge for every business is wages. We are assisting with that and we are helping real wage growth in the economy, where we know our most vulnerable employees are outpacing the rate of inflation with their pay packets.
Sentiment score: 0.04
I am committed to boosting the competitiveness and long-term sustainability of SMEs across the country by supporting them to reduce costs and improve their overall productivity. The Government now has a range of supports available to SMEs to save on energy costs, while improving their sustainability. The local enterprise offices, based within the 31 local authorities, offer advice, consultancy and grants in the areas of lean, green and digital. These grants focus on enhancing productivity and improving competitiveness in small businesses. Effective and efficient use of materials and resources can make a significant difference to the profitability of businesses, making them more sustainable and increasing their ability to respond to shocks in the economy. For example, the energy efficiency grant offers up to €10,000, or 75% of the costs, for small businesses to invest in technologies and equipment identified in a Green for Business, GreenStart or SEAI energy audit. The aim of the scheme is to reduce the impact of enterprises on the environment and, critically, their energy costs in the longer term. Enterprise Ireland has a broad range of supports that help rural SMEs improve productivity, embrace digital tools and transition to a low-carbon future, which will be essential for their long-term sustainability. These include the climate action voucher, which provides up to two days of independent training or advisory services to develop an initial sustainability action plan, and GreenStart, which provides up to €5,000 to fund the cost of hiring a sustainability consultant to introduce best practice sustainable systems to the business. Additionally, the Climate Toolkit 4 Business is a free online resource where SMEs can estimate and understand their businesses' carbon footprint. Businesses receive a tailored climate action plan specific to their business, with recommendations on the most impactful steps they can take, and directions to the Government supports to help them achieve these steps.
Sentiment score: 0.64
I thank Deputy McCormack for his concern. I will make a few points. First, in addition to the sustainability grants, digitalisation allows businesses to either grow their revenue or reduce their cost base. That is a key way to change the business model. The critical thing about a grant is that the business does not change its model, which potentially leads to an unsustainable pathway, so it has to be done every single year. Businesses can increase revenue or reduce costs. That is how they get on a winning path. We are trying to continue with that. Our National Enterprise Hub has 250 supports. I would encourage all SMEs to log onto that to get the details on the range of supports. I would also point out that we have reduced the VAT rate on gas and electricity for SMEs, and we reduced the VAT rate on hospitality to 9% from 1 July. I am saying to businesses in the hospitality sector that that is 4.5% on their margins. I need 7% growth from them to ensure we get a very strong return of jobs and revenue back into the Exchequer. We also did a huge amount of work with the low-cost loans, increasing the microfinance loan to €50,000 and doubling the investment innovation voucher to €10,000.
Sentiment score: 0.28
I would be willing to work with the Deputy across government to enhance the supports the LEOs have been offering to SMEs, the small family businesses that make up two thirds of all the employment across our country and drive so much of the economic activity in our communities. We are absolutely looking to enhance supports for them. The Minister of State, Deputy Alan Dillon, and I are doing a lot of work in relation to the LEOs, Enterprise Ireland and the service level agreement that pertains to both. With regard to the midlands, I would point out that from quarter 3 of 2024 to quarter 3 of 2025, 3,900 new jobs were created in that locality. Critically, that means there are 3,900 families with an additional income that was not the case a year earlier. On the broader spectrum, budget 2026 was an exclusively enterprise budget. That will fuel the engine for the years ahead to ensure we can do so many things for employees and tackle our infrastructural deficits in the coming years. That will be critical to the success of our economy.
Sentiment score: 0.27