The Minister for Enterprise, Trade and Employment has said it is vital that the Government delivers a strong enterprise focused budget in October and it will.
Simon Coveney said there is no doubt that the economy remains in excellent health with a strong macroeconomic and fiscal position, sound institutions and a supportive business environment.
But addressing the Ibec President's dinner in Dublin tonight he said those economic gains need to be maintained and ambitious plans need to be made for the future amid current economic uncertainty.
He said the budget needs to strike a balance between the need to invest in public services and support living standards, without committing expenditure based on income that is not guaranteed in the future.
"We’ve just seen this week a billion euro drop in corporation tax for the month of August versus last year, which while the annual figure is up on last year, underlines the volatility and the scale of corporation tax," he said.
He said one of the main areas of focus of his department in the budget will be to support decarbonisation of the enterprise sector as a whole.
The department is also focused on promoting entrepreneurial activity in the domestic economy and ensuring Ireland remains a preferred location for international investors in the context of the agreed changes to corporation tax rates from January 1st.
He added that he also wants to develop measures to assist with scaling Irish businesses to help them to go global, ensuring founders are rewarded for their efforts and risk taking.
Mr Coveney said challenges in relation to the carrying capacity of the economy continue to impact business, including housing which he said the Government remains focused on and will continue to prioritise.
He also said the Government remains committed to investment to overcome other constraints in areas such as transport, water, energy and climate adaptation.
The minister said his overriding concern in this and future budgets is "never to allow a return to the boom and bust budget cycles that we have seen in previous decades that has brought misery on Irish society."
Mr Coveney also said he recognises that the cost of doing business remains a concern for many, but the Government remains proactive in limiting the fallout from higher rates of inflation where possible.
The minister also said that despite unwelcome job losses in the tech sector international investor commitment to Ireland remains strong.
He also said Ireland must remain steadfast in advocating for open trade.
Also addressing the dinner, the new Ibec President, Paul Duffy, outlined the main areas he sees as priorities.
These included the importance of a strong ESG agenda, as well as continuing to nurture talent.
He said the budget must unlock the more than a billion euro surplus that is sitting in the National Training Fund.
Mr Duffy also spoke about the importance of diversity in the workplace and ensuring Ireland remains an open society.
"Ireland cannot afford complacency, we must embrace transformation and growth," he said.
