Tuesday 15 October 2019

Heather Humphreys to announce 'significant' Brexit support package in Budget 2019

Business Minister Heather Humphreys. Photo: Justin Farrelly
Business Minister Heather Humphreys. Photo: Justin Farrelly
Philip Ryan

Philip Ryan

Business Minister Heather Humphreys will announce a "significant" Brexit support package in today’s budget.

The measures will include investment in enterprise agencies and foreign direct investment initiatives aimed at luring business to Ireland after Britain leaves the EU.

Ms Humphreys will announce €5m for local enterprise offices and additional funding for InterTrade Ireland.

Another €10 will be invested in the next phase of Industrial Development Authority (IDA) regional property programme which it is hoped will encourage more foreign direct investment into the regions.

"The minister will be announcing a significant package to support industry to prepare for Brexit," a Government source said.

It is unclear if there will be any changes to the Government’s Brexit loan scheme for businesses. The scheme was announced with much fanfare last year but there has been a very low uptake on the scheme.

It is also expected there will also be further investment in Taoiseach Leo Varadkar’s plan to double the country’s diplomatic missions abroad.

Finance Minister Paschal Donohoe is also expected to announce funding to hire hundreds of custom officials over fears of a hard border after Brexit.

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