Speech by Taoiseach Micheál Martin at the IBEC President’s Dinner Thursday, 4 September 2025

Check against delivery

A chairde,

Is mór and pléisiúr dom a bheith in bhur dteanta anocht agus ba mhaith liom mo bhuíochas a ghabháil leat, Danny, as ucht an cuireadh a bheith libh.

Agus muid ag céiliúradh an ócáid bhliantiúl ina nglacann Uachtarán nua ceannasaíocht ar IBEC, gabhaim buíochas croíúil le Anne don sár-obair até deanta aici le linn a tearma agus guím gach rath ar Colin don bhlian atá romhainn.

Colin, congratulations on your appointment as President of IBEC.

Anne, I want to recognise your work as President over the last 12 months, and particularly your commitment to the promotion of openness as the central message you conveyed throughout your tenure.

And in truth, openness is a value which today is under pressure through much of the world.

By any definition these are times of profound challenge. Economically, socially, environmentally and culturally, old certainties are disappearing. I know that there are people in all walks of life who are questioning if the negative tides we and others face are just too strong.

But I remain fundamentally an optimist. I believe that we can, and we will overcome the challenges of this moment because there are certain core values and principles which remain as valid as ever. If we stick to these then we have the power in our own hands to shape our future.

Some still see us as a young country – but we are actually one of the oldest continually democratic states in the world. What we have overcome in the last century shows us how much can achieve. I absolutely believe that in the years ahead of us we will again show how Ireland is a country which can adapt and succeed in even the toughest of circumstances.

I want to talk with you about some of the areas where I believe that sustained action can make a difference on the biggest challenges we face, and especially how we make sure that Ireland continues to build successful businesses employing our people in well-paid and secure jobs.

We have to be focused in our fiscal and economic priorities.

We have to adapt to changing realities in trade.

We have to manage new technologies not fear them.

We have to invest in the skills and innovation of our people.

And we have to deliver a sustained improvement in all aspects of our public infrastructure.

Europe remains the foundation

Underpinning all of this, we must never forget the fundamental foundation which is provided by cooperating with other democratic states.

Academics have started referring to what they term ‘democratic recession’ in the world, with core liberal-democratic values being on retreat in many places.

However, in all of this, there is no systematic alternative – and more importantly no one can challenge the fact that democracies deliver higher standards of living, longer and healthier lives, greater innovation and more authentic cultures.

For Ireland, there is no progress possible without close, rules-based and active cooperation within the European Union of democratic states. Its values, its opportunities and its ambitions are fundamental for us.

As I said when I became Taoiseach, this is an unapologetically and absolutely committed Euro-positive government. Any group of sovereign nations will always have flaws. It will always have things which it should be doing better.

But, in all, the EU remains vital and we will never stand on the sidelines as others attack it.

The corrosive anti-EU sentiment which has caused such division and damage in our closest neighbour is something I will always stand against.

As you know, next year we will hold the Presidency of the Council of the European Union. It is a remarkable thing that a small nation such as ours will preside over meetings taking decisions impacting some 750 million people.

We are determined to make this presidency a success, not just to give a voice to Irish concerns, but also to give a voice to the belief that European democracy, and Europe’s commitment to trade and openness, remains strong.

Trade and Budget 2026

The challenges of this moment have many clear risks for our economy.

The underlying strength of the economy can be shown in many ways, most importantly through very high employment and our strong public finances.

However, we fully understand that nothing can be taken for granted and we need to take action now across a range of fronts.

As a small open economy, we are particularly vulnerable to external developments. The increase in protectionism, the changing tariff landscape, and the fragmentation of global supply chains all pose a threat to our economic model.

Tariffs are bad. They are bad for business and bad for consumers. They deliver higher prices and higher interest rates. They distort economies and inhibit innovation. And of course they undermine successful multi-national cooperation.

But I am a realist. If others do not share our view of freer trade we have to deal with the situation as it is.

Last month’s Joint Statement on trade between the European Commission and US represents progress, in that it provides a degree of certainty and predictability for Irish exporters.

The confirmation of a single, all-inclusive 15% tariff on EU goods, avoids a harmful tariff-escalation across the Atlantic and ensures continued access to American markets.

There are areas where further work remains to be done, including a potential carve-out for med-tech products and spirits and I hope this will be advanced as quickly as possible.

We will continue to advocate for these sectors not just because of their significant importance to our domestic economy, but also because of their unique and positive reciprocal contributions to the American economy.

I and my Government will continue to work closely with the European Commission, our fellow EU Member States, and with the US to build on the Joint Statement.

We will continue to control what we can control and continue to make our country as competitive as possible; and as good a location as possible to invest in and create jobs.

Of course, budgetary policy is an important part of how we respond.

We have already set out the general parameters for the Budget. We fully understand that we have to prepare for different eventualities, and this requires an active approach not a passive one.

That is why we have established and will continue to put aside money into two significant sovereign wealth funds. They give certainty in relation to critical investment plans and provide a buffer if there is a significant international downturn.

We will also use resources to enhance the productive capacity of the economy and improve vital services.

Competitiveness, Productivity and Market Diversification

And competitiveness, productivity and the identification of new markets are just as important.

Where we can, and without undermining the ability to provide services everyone relies upon, we need to move forward initiatives to tackle the costs of doing business – and these include unreasonable delays in getting decisions.

We are going to build on a series of steps taken in recent months through a coordinated series of actions across government which will be launched next week.

We will set out further ways to reduce the cost and regulatory burden on businesses, support research and development and innovation, improve planning and regulation, and invest in infrastructure and energy reform.

These steps are a necessary response to the very real threats to our future prosperity in a fast-changing world.

We need to act with urgency and agility to build on our market strengths and to diversify our markets.

That is why, last week, we published a series of actions on Market Diversification which target supports for Irish businesses to continue to grow their turnover and their job numbers, deepen and extend our trade relationships, grow quality employment and reinforce our economy.

Enterprise Ireland has launched new grants to help companies to develop tariff mitigation strategies and to find new markets.

We all know that trade is vital for Ireland. It is the only credible way for us to provide the jobs and investment our people rely on. In spite of this there are many in our political sphere who remain viscerally opposed to trade and who celebrate every action which delays new trade agreements.

Once again, I want to make it very clear that my government will always be pro-trade. We will work to deepen established connections and to build new ones. Where new trade agreements are available and are balanced then it is in

Ireland’s interest to ratify them as quickly as possible.

Digital and AI

Investment in skills and innovation will also remain vital for shaping our future. Not only must we increase our support for research and innovation, we must also move fast to engage with transformative developments.

The development of high-skills, advanced sectors in Ireland didn’t happen by chance. Our pro-enterprise policies are critical, but so too has been our investment in people and ideas through support for research.

We can often take this for granted, but we actually have seven universities who are rated in the top 3% of universities in the world. We have many other research facilities which have also transformed our research profile in the past 25 years.

Both applied and basic research are vital to training people and to generating new products and businesses. A renewal of our core research capabilities is a priority for me and progress on this will be shown in the coming months.

I am not naïve about AI. The history of technological developments, and particularly the developments of the past quarter century, teaches us that major changes can be complex and involve unanticipated impacts as well as opportunities.

But what we can see so far is that AI could be a game-changer in many positive ways.

We are determined that Ireland will be a vibrant location for AI innovation, building on our long-standing reputation as a global technology hub.

And we will continue to work closely with the EU to ensure that the AI Act is implemented in an appropriate way, to deliver the right balance, while also enabling innovation and growth.

We are committed to significantly accelerating the digitalisation of enterprise, public services and the wider economy, to ensure our future competitiveness.

And while we face capacity constraints on energy, we will maximise our scope for digital infrastructure in the short-term, while bringing through more renewable energy as quickly as possible.

And to do this, we will need to work in close partnership with industry.

We will continue to support enterprise to drive AI literacy and ensure the workforce is prepared to fully embrace the opportunities of AI.

Climate Action

Climate change is another fundamental issue which must be addressed and cannot be wished away.

Action to limit carbon emissions and protect our biodiversity is not optional – it remains absolutely essential.

And it is important to acknowledge progress when it has been achieved. In spite of the fact that Ireland’s population has grown by 50% in the last 35 years our carbon emissions are lower and are falling.

It is absolutely reasonable to say more must be done, but it is absolutely wrong to say that nothing significant is being done.

This progress to date proves that we can achieve both environmental and economic progress. In fact, I believe that progress on environmental actions will be increasingly important for our economy.

We are making real progress in the areas of energy, transport and agriculture but: we must and we will move faster and do more.

Infrastructure Investment

Key to our competitiveness and our continued economic success is critical, growth enhancing infrastructure. We have a responsibility to invest in the future – a modern and growing country demands modern, connected, high quality infrastructure.

That is why we are driving forward a step-change in the approach to infrastructure delivery.

Our plans represent the largest ever capital injection in the history of the State and will enable the delivery of thousands of new homes, provide more childcare and school places, invest in children’s disability services and ensure better healthcare for all.

It is a landmark moment for Ireland’s future.

With a record €275 billion in public capital investment, we will deliver the infrastructure that will help us meet the economic and social needs of the Irish people for generations to come.

This plan is about building homes, connecting communities, and creating opportunities.

It reflects our ambition to support a growing population, meet our climate goals, and ensure that every part of Ireland can thrive.

Key investment allocations include:

• a total of €3.5 billion for energy projects with ESB Networks and Eirgrid to fund grid capacity to support housing and competitiveness;
• Over €12 billion for the water sector for water and wastewater services; and
• Over €24 billion for critical transport projects.

Funding of course must be twinned with reform. Ireland must become a more effective place to deliver major strategic projects. This morning for example I spoke at a market engagement event for the MetroLink project.

MetroLink is probably the biggest, and most important, project in any of our lifetimes. It will be expensive and disruptive. But it will also be a transformative investment for Dublin and Ireland.

The options have been studied and reviewed for twenty years – so we either deliver it when we have the resources, or choose to pass on a legacy of poor, climate-unfriendly transport infrastructure to future generations.

I and this Government are clear in our choice.

It was encouraging and indeed exciting therefore to see so many international experts eager to contribute to delivering projects for Ireland. We must harness this expertise and make sure our systems and processes are streamlined, efficient and fit for purpose.

We are working to identify the barriers to infrastructure delivery and how we can act quickly to find solutions.

In the coming weeks we will set out more actions of reform. We are engaging with industry on this - I am determined to have reforms that are grounded in practical, real-world knowledge and experience.

It is very clear that housing is a defining issue for our country with profound social and economic impacts. Increasing the supply of affordable and sustainable housing is critical and is the top priority for Government.

As we can see through most of Europe, this is an international phenomenon, but there are factors here delaying projects and increasing prices which simply have to be addressed.

We have to act comprehensively and continue to react as new circumstances and new challenges emerge. We continue the approach of announcing specific measures as they are developed and will continue to monitor the overall strategy.

We have introduced measures to lower the cost of construction, we have changed apartment standards, we have addressed zoning issues through the new National Planning Framework and we are working so that all involved in building homes have certainty in our approach and in our policies.

We are overhauling our Planning processes and have established of An Coimisiún Pleanála to focus on accelerating crucial planning decisions and reducing delays which I know are a source of frustration. It is clear that the constant recourse to the legal system is having a chilling effect across all aspects of infrastructure delivery.

This needs to change.

We are giving a clear and certain message both internationally and domestically that through increased funding and meaningful reform, this Government will deliver on infrastructure.

Closing Remarks

Thank you all once again for the opportunity to be with you this evening.

I know that everyone here is committed to a prosperous Ireland for all, and I want to assure you that my Government is absolutely committed to valuing and supporting the role of enterprise.

Even in this serious moment, Ireland has deep strengths and a proven ability to overcome new challenges.

We have overcome much more in the past, and as we focus on protecting and strengthening employment and incomes the agenda is a very clear one.

An ambitious but responsible budgetary policy.

A record level of investment in infrastructure accompanies by reforms in delivery.

Urgent action to adapt to new technologies, diversifying our markets and enterprise base, and remaining agile and flexible in challenging times.

The story of Ireland over the generations has been one of extraordinary evolution, resilience and progress. I want to reassure all of you here of my absolute commitment to ensure that this story can continue along the same trajectory for the generations to come.

Bainigí sult as an ócáid anocht.Go raibh míle maith agaibh.

ENDS