Finance Minister Michael McGrath indicated that before the next Budget, initiatives could be implemented to support struggling businesses. McGrath talked on RTÉ radio’s Morning Ireland about a report drafted by Simon Coveney, Minister for Trade, Enterprise and Employment. This report analysed the effects of several governmental policies meant to enhance working conditions, highlighting the need to increase pay rates, minimum wages and certain leave entitlements.
McGrath recognised the costs that businesses have to bear due to these measures, stating that plans have been made to alleviate these pressures.
The emergent leader of Fine Gael and likely successor as Taoiseach, Simon Harris, indicated on Sunday that supporting small businesses would be a central focus of his government. There has been discontent among the Fine Gael backbenchers over the past months due to the rising expenses for businesses, demonstrating a grassroots concern on this matter.
In terms of support offerings, McGrath unveiled a boost to the energy efficiency grant for businesses. He also commented on the repercussions of the low employer PRSI rate connected with low-income levels. He affirmed their dedication to exploring what can be done before the Budget. This issue was discussed at a Cabinet committee level few weeks ago, with Minister Coveney suggesting the development of option papers, which is now being moved forward by the Department of Social Protection.
Furthermore, he articulated a desire to roll out a grant of a quarter of a billion euros to businesses in the forthcoming weeks, a measure announced in the budget.
When questioned about a potential trade pact involving Micheál Martin and Simon Coveney in Cork South-Central, McGrath discarded the possibility. However, he did articulate his profound respect for Coveney’s professional approach, acknowledging their successful collaborations at both local and national levels as well as within the Cabinet.
Mr. McGrath extended his congratulations towards Simon Harris on his imminent advancement to the esteemed position of Taoiseach, a moment of great pride for Simon and his loved ones.
“In the past four years, we’ve had the privilege to interact intimately with Simon in Cabinet meetings, during which his ministerial duties have left a strong impression,” noted Mr McGrath. “It’s evident that his fellow Fine Gael members have complete confidence in him, and he’s expected to hold the Taoiseach title in a fortnight.”
Speaking of his relationship with Mr Harris, Mr McGrath stated that he was confident that Simon understood the significance of maintaining cordial relations at a leadership level.
“We are a coalition formed of three distinct parties in the current Government, ” said Mr. McGrath, “Our unique identities apart, the common objective is to serve the Government effectively. The most crucial factor here is the stable Government that provides reassurance for our economy and those generating and preserving employment opportunities. The Government aims to intelligently use the resources at its disposal to develop homes and enhance public services in Ireland. That’s the commitment we, as a Government, make.”