Speech by Tánaiste and Minister for Finance, Simon Harris, at EY Entrepreneur of the Year Gala Awards Ceremony

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Good evening, Ladies and Gentlemen,

It is my great pleasure to be here with you this evening in Powerscourt, to pay tribute to Ireland’s entrepreneurial community in what is one of my first public engagements as Minister for Finance and my very first in my home constituency since assuming that mantle.

I must start by firstly thanking EY Managing Partner, Frank O’Keefe and Entrepreneur of the Year Lead Partner, Roger Wallace for the invitation to speak with you here this evening.

The EY Entrepreneur of the Year Ireland programme, now in its 28th year, is a remarkable achievement.

The programme has cemented itself as a key component of the Irish entrepreneurial ecosystem and it has had an extremely positive impact on Irish business in terms of the valuable recognition it gives to our entrepreneurs both nationally and internationally.

I wish also to sincerely congratulate the finalists here tonight.

Your entrepreneurial spirit and determination have not only fuelled your own successes – they are also a major factor in the continued economic growth of Ireland itself.

I am told that the programme’s alumni has grown to include over 650 of Ireland’s leading entrepreneurs, with combined revenues of approximately €28 billion across the alumni network and no doubt the finalists here this evening will add to that.

Because of entrepreneurs like you, Ireland stands today as a vibrant and dynamic place to do business.

You have shown that ambition coupled with hard work can shape a country’s future, and it is through this willingness to turn bold ideas into realities that Ireland punches so clearly above its weight on an international stage.

You embody the theme of this year’s programme – ‘Shape The Future With Confidence’ – a motto I might just adopt in my new role as Minister for Finance – because, as a country, we have many reasons to be confident.

Economic Context

‘Ireland is an open economy in a changed international environment’

One of Ireland’s greatest advantages is undoubtedly in its relationship with the wider international community – as a small nation, an openness to the world beyond our shores has enabled us to stretch far beyond the limitations of our size.

While the multinational sector has of course played an instrumental role in this transformation, our economic progress could not have been secured without the resilience and dynamism of entrepreneurship in our own country.

The certainties that have underpinned Ireland’s success are now, however, not so certain. There is no doubt that Ireland is now operating in a more challenging international business environment than in previous years.

However, we have successfully navigated challenging situations in the past, and we will do so again, taking inspiration from the resilience of our business community.

‘Ireland continues in its success’

We have reasons for optimism– with continued growth, a flourishing business environment, and historic lows in unemployment – but we have no room for complacency.

There are more people at work in Ireland today than lived here in 1960. From this point alone we see the monumental changes that this country has undergone, and we know we have to manage resources wisely and build the future for our growing and changing demographics.

For me, the government needs to adopt an entrepreneurial mindset to what I see as a window of opportunity to strengthen our economic and social foundations to support future gains in living standards. Our government is determined we will not miss this opportunity.

One of my immediate priorities will be to now set for our country a Medium Term Fiscal Framework – an economic plan which ends short termism – and which will anchor our spending and taxation plans for the time ahead. This will set out a budgetary path to maintain sustainable public finances, deliver progress on the economic and social priorities of government, and protect the long-term prospects of our country.

Throughout this process, and as Minister more generally, my guiding principles will be:

• to steer Ireland’s economic policy to continue our record level of investment in infrastructure while we reform delivery;
• to pull every lever we can to deliver increased housing supply;
• to wisely manage our resources to deliver better public services as our population grows;
• to protect jobs and back businesses and farmers;
• and to save for the future in an uncertain world

’Government plays a role in continued success of entrepreneurship’

I am well aware of the role the State has to play in fostering a positive environment for business – to provide a launchpad – leading the way in effectively incentivising investment, rewarding innovation, and ultimately delivering an opportunity for entrepreneurship to flourish in this country.

Both Enterprise Ireland and Invest Northern Ireland have helped unlock the potential within businesses here today and around the island of Ireland, and the government is grateful for their dedication.

From the perspective of government policy measures, we know the global trading environment is critical for growing Irish businesses. Ireland is currently involved in ongoing discussions at both the OECD and UN regarding international tax frameworks. My officials are fully engaged in this process, and our aim here is ultimately to ensure stability and predictability in cross-border trade.

‘Innovation and R&D’

We know we also need to support and incentivise research & development, and the government is committed to supporting Irish business to be at the very cutting edge of scientific and technological evolution.

The R&D tax credit, now over twenty years in existence, is the key element of a suite of corporation tax measures that ensures Ireland remains an attractive location for both domestic and inward investment and building an innovation-driven domestic enterprise sector. I am pleased that we were able to bring forward further enhancements in this year’s Budget which are now completing their passage through the Dáil.

These enhancements, such as increasing the rate of the tax credit to 35%, as well as the introduction and successive increases in the first-year payment threshold to support smaller R&D projects in particular, show the government’s continuing commitment to the regime.

The government will maintain this focus on enterprise supports for productive and innovative businesses in the State, with a commitment over the coming year to develop options for a new tax-based support for innovation. These tax-based supports complement the direct supports provided through Enterprise Ireland and Invest Northern Ireland, and which are so important in enabling businesses to establish and thrive on this island.

‘Entrepreneurial Relief and SMEs’

The government is also acutely aware that young enterprises face clear obstacles in their early years and, as such, need adequate support during this stage to grow and develop.

It is with this in mind that a number of tax incentives have been put in place in order to assist entrepreneurs and new companies in their efforts to raise funding.

As part of this, the ‘Employment Investment Incentive’ and ‘Start-Up Relief for Entrepreneurs’ schemes were both enhanced last year in Budget 2025, and the relief for investments in innovative enterprises, known as the ‘Angel Investor Relief’, also commenced earlier this year. These schemes all aim to assist early-stage businesses access the necessary finance to start and grow their businesses, supporting entrepreneurs as they take the brave step of turning their business ideas into reality.

A further relief targeted at entrepreneurs is the Capital Gains Tax Revised Entrepreneur Relief. Recognising the important role of entrepreneurs play in the economy, Budget 2026 has improved this relief with an increased lifetime limit of €1.5 million for gains for which relief can be claimed.

Raising the lifetime limit has been a longstanding request from stakeholders and I am confident that this increase will deliver for entrepreneurs, in particular those seeking to expand and scale-up their businesses.

Moreover, in order to provide certainty to businesses, the Finance Bill 2025 is extending both the Foreign Earnings Deduction (FED) and the Special Assignee Relief Programme (SARP) for another five years. These measures aim to support Irish businesses seeking to expand in new and emerging markets, as well as facilitating the relocation of highly skilled key employees from foreign-based operations.

‘Environmental Sustainability’

An openness to innovation is perhaps now more important than ever. With the growing imperative to confront climate change, environmental sustainability is no longer a peripheral concern, it is a central priority for legislators, regulators, and participants in financial markets.

Irish business and entrepreneurs will be a central part of this conversation; as always, agents of change, driving us towards a more sustainable future, and helping us to tackle the greatest challenges of our time through new frontiers of innovation.

It cannot be separated from our National Development Plan and the momentous opportunity we have to address our strategic deficits and build our competitiveness, which matters so much to the overall environment for entrepreneurship.

Quite simply, it is the most ambitious capital investment programme in the history of the State.

This government will deliver the infrastructure that a growing population and a growing economy need, most especially in housing, but also in water, energy, transport and climate.

We have available record resources to build for the future, and the will of the State must not be stymied by any obstruction which it is within our power to remove.

This is a moment for political courage, and we will not be found wanting. I expect the publication of the Accelerating Infrastructure Taskforce in the near future will give confidence in this regard.

Concluding Remarks

As I conclude, I would like to acknowledge something fundamental about the nature of entrepreneurship; each and every one of you here tonight has at one point – at least one point! - taken a leap of faith.

You have dared to turn dreams into reality – taking the risk, putting in the work, and carrying on in your endeavours with the unwavering commitment that innovation demands.

Your achievements are not just personal milestones, they are stories from which we as a nation can take both pride and inspiration, reminding us of what is ultimately possible in this country when talent meets courage and courage meets commitment.

It is in hearing these stories that I am filled most with optimism for the future, and a deep confidence in the country which we are building together.

I would like to thank you sincerely, for all that you have accomplished, and all that you will accomplish in the future. For this you have my deepest gratitude, and I now extend my warmest congratulations to all of you here tonight.

Go raibh míle maith agaibh agus Beir Bua!