Budget 2027 delivers €1.3 billion for Enterprise, Tourism and Employment

7th October 2026

Minister for Enterprise, Tourism and Employment, Peter Burke TD, has today announced a total allocation of €1.3485 billion as part of Budget 2027, including €638.5 million in current expenditure, an increase of €27.5 million and €710 million in capital funding, an increase of €30 million. This investment will support enterprise growth, innovation, digital transformation, tourism development and the creation and retention of high-quality jobs.

Additional funding of:

• €3 million for the establishment of the landmark Start Up Ireland initiative, with the aim of supporting 1,000 new start-ups.
• €20 million for the launch of the €500 million Growth and Sustainability Loan Scheme, providing long-term finance of up to €500,000 on an unsecured basis to eligible businesses, in partnership with the European Investment Bank Group, with a further €20 million commitment in 2028.
• €2.3 million for the National AI Office of Ireland, bringing total budget to €3.8 million, to support implementation of the AI Act, development of an AI Regulatory Sandbox and strengthened national AI capability and literacy.
• €4.5 million for Local Enterprise Offices, including funding for fund energy efficiency upgrades for small businesses and investment in Local Enterprise Offices reforms and modernisation.
• €13 million toward Irish companies engaging with the European Space Agency, bringing the total to €30 million.
• €7.5 million additional funding technology centres for the Irish Manufacturing Research (IMR) centre and the AI technology centre, CeADAR, growing total funding to €32.5 million, strengthening partnerships between businesses and researchers to drive innovation and productivity.
• €6.65 million for Fáilte Ireland tourism product and destination development in the regions.
• €2.5 million for Tourism Ireland marketing for new and high-growth markets.
• €6.5 million for the Disruptive Technologies Innovation Fund, supporting the development of breakthrough technologies and collaborative research projects.
• €1.2 million for National Standards Authority of Ireland (NSAI), supporting the Housing Implementation Plan through agreement, certification and modern methods of construction standards work.
• €800,000 for the Register of Beneficial Ownership (RBO), to implement the sixth Anti-Money Laundering Directive.
• New tax and competitiveness measures will complement record enterprise investment, creating the conditions for businesses to grow, innovate and create jobs across the country. 

The Minister for Enterprise, Tourism and Employment, Peter Burke TD, has welcomed the Budget 2027 allocation designed to strengthen Ireland's competitiveness, accelerate the adoption of artificial intelligence and support businesses through streamlined regulation and targeted investments in innovation, entrepreneurship, sustainability, enterprise and tourism development.

Minister for Enterprise, Tourism and Employment, Peter Burke TD, said,

“Budget 2027 is fundamentally about strengthening Ireland's competitiveness and ensuring we remain one of the best places to start a business, invest, innovate, create jobs and visit. Through targeted investments in entrepreneurship, digitalisation, AI, sustainability, tourism and regional development, we are creating the conditions for businesses to start, scale and succeed across the country and the globe. 

“This Budget backs businesses at every stage of their journey, from start-up to scale-up, while also investing in the infrastructure, research capability and talent needed to secure Ireland's future economic success.

“I also welcome the allocation of €15 million to support rural pubs and look forward to working with Tánaiste Simon Harris to develop a scheme that will help sustain these important community assets.”

Building Ireland's next generation of entrepreneurs

Budget 2027 will invest €3 million to establish Start Up Ireland, a gateway for entrepreneurs to access funding, expertise and supports needed to build and scale globally competitive Irish businesses.

The extension of key entrepreneurship and investment supports, including the Employment Investment Incentive (EII), Start-Up Relief for Entrepreneurs (SURE), the Start-Up Capital Incentive (SCI) and Angel Investor Relief, will ensure founders and investors have access to incentives that encourage business creation and growth.

Helping businesses invest, innovate and reduce costs

Local Enterprise Offices will receive an additional €4.5 million to help small businesses cut costs through energy-efficiency investments, and a further €500 million will be made available through the Growth and Sustainability Loan Scheme, which will help unlock long-term lending for businesses.

The €1 billion ISIF start-up and scaling investment programme to 2030, in cooperation with Enterprise Ireland, will help ensure Irish companies have access to the long-term capital needed to scale internationally.

Protecting jobs

Alongside a 79-cent increase in the National Minimum Wage, Budget 2027 balances support for workers' incomes with measures to strengthen competitiveness, providing certainty for employers through the removal of the 2029 living wage timeline and broader actions to reduce the cost of doing business.

Budget 2027 includes a personal income tax package of €1.3 billion for the year ahead. An increase in the Standard Rate Cut Off Point by €2,500 to €46,500, with proportionate increases for married couples and civil partners has also been included. The Personal, PAYE and Earned Income Tax Credits will all increase by €125.

Budget 2027 provides additional certainty and support for employers through an increase in the higher-rate Employer PRSI threshold from €552 to €600 per week, helping to manage labour cost pressures while supporting sustainable wage growth.

Investing in innovation and the industries of the future

An additional €7.5 million towards Technology Centres will boost industry-led research, innovation and commercialisation. Ireland will also continue preparations to participate in future Important Projects of Common European Interest (IPCEI) initiatives in Artificial Intelligence and Advanced Semiconductors.

An additional €6.5 million for the Disruptive Technologies Innovation Fund has been secured, as well as close to €30 million to support Ireland’s participation in the European Space Agency, helping businesses win international contracts.

Support for innovation will be strengthened through enhancements to the Research and Development Tax Credit, helping businesses invest in research, develop new technologies and bring innovations to market

Supporting regional growth and attracting investment

IDA Ireland will receive additional funding to develop Next Generation Strategic Sites, and there will be over €650,000 for InterTradeIreland to expand support for SMEs seeking to grow across the island.

Growing tourism across every region

Fáilte Ireland will receive an additional €6.65 million to support tourism product development across the country, while €2.5 million for Tourism Ireland will boost international marketing to attract more visitors and grow tourism revenues.

Positioning Ireland as a leader in trusted AI

Budget 2027 will increase funding for the National AI Office of Ireland to €3.8 million, supporting AI regulation, a national AI sandbox and a new AI literacy programme to accelerate trusted AI adoption across the economy.

Increasing trust in Ireland's economy

Budget 2027 provides targeted funding to strengthen Ireland's business standards, consumer protection, labour market and regulatory infrastructure, supporting housing delivery, fair competition, employment rights and a well-functioning business environment.

Alongside significant direct investment in enterprise, innovation and tourism, Budget 2027 delivers a series of tax and competitiveness measures to support business growth, encourage investment and make it easier for companies to start, scale and succeed.

Minister for Enterprise, Tourism and Employment, Peter Burke TD, said:

"At a time of significant global economic change, this budget invests in Ireland's competitiveness by supporting businesses of all sizes to innovate, scale and succeed internationally. I am backing proven programmes that deliver real results while investing in the ideas, talent, infrastructure and enterprise supports that will help create the next generation of Irish success stories. These measures will ensure Ireland remains an attractive location for investment, innovation and the creation of high-quality jobs across the country.

"I am committed to continuing to invest in tourism as a strategic economic sector, supporting initiatives that will attract more visitors, increase tourism revenue and create opportunities in every region. From leveraging global profile events to promoting Ireland's world-class food, culture and heritage offering, these investments will strengthen one of our most important indigenous sectors and support sustainable regional growth.

"Together with the Minister for Finance, I am committed to ensuring our tax system supports innovation, helping businesses invest in research, develop new technologies and grow."

Minister of State for Trade Promotion, Artificial Intelligence and Digital Transformation, Niamh Smyth TD, said:

"Artificial intelligence and digital transformation are among the greatest opportunities for productivity, competitiveness and economic growth. Budget 2027 provides the resources needed to help businesses seize those opportunities to build capability across the economy.

“These measures support our ambition to ensure Ireland is a leader in trusted AI, digital transformation and the development of future-focused industries. Expansion of the National AI Office of Ireland will ensure that there is strong leadership on AI regulation and innovation."

Minister of State for Employment, Small Business and Retail Development, Alan Dillon TD, said:

"Small businesses remain the backbone of local economies and communities across Ireland. This budget positions Ireland as an International hub for start-ups and strengthens the supports available to entrepreneurs, retailers and SMEs through Local Enterprise Offices, InterTradeIreland and a range of enterprise programmes designed to help businesses start, grow and thrive.

“Budget 2027 strengthens the supports available to help businesses grow and create employment, while also investing in the services and institutions that support a modern and productive labour market. From enhancing workplace relations and collective bargaining structures to improving employment permits services, these measures will support workers and employers alike and help ensure businesses can access the talent they need to succeed.”

Editor’s notes

1. Start Up Ireland
Budget 2027 provides €3 million as an initial investment to support the creation of Start Up Ireland. Start Up Ireland will strengthen Ireland's entrepreneurship system through positioning Ireland as a leading global location for start-ups.

Start Up Ireland will be co-located with Enterprise Ireland in a new city centre location. This new national initiative is designed to better connect founders with the supports they need to start and scale their businesses. The investment will support the creation of a coordinated network that brings together entrepreneurs, investors, multinational companies, universities, incubators and accelerators, while establishing a single point of contact to access information, advice and supports.  Together, these measures will simplify the start-up journey, strengthen collaboration across the enterprise ecosystem and help more innovative Irish businesses grow and compete internationally.

2. Improving access to finance remains a key Government priority. Following the strong success of the Growth and Sustainability Loan Scheme, Government has approved a €500 million expansion that will double the Scheme to €1 billion and extend it until June 2029. Backed by a €63 million commitment from the Department of Enterprise, Tourism and Employment, with additional funding from the Department of Agriculture, over three years, the Scheme will continue to support SMEs, farmers, fishers and small mid-caps with access to long-term finance, with €20 million allocated in each of 2026, 2027 and 2028.

3. A proposed €1 billion ISIF (Ireland’s Strategic Investment Fund) investment programme to 2030, in cooperation with Enterprise, Ireland, will provide a long-term source of commercial capital for Irish scaling companies through equity and debt investments. The package includes a dedicated €100 million venture capital allocation for high-growth, innovation-led businesses, helping to strengthen Ireland's scaling ecosystem and support the next generation of indigenous firms.

4. Building on the work of the Cost of Business Advisory Forum, a range of measures to improve competitiveness and reduce the administrative burden on businesses are advancing. Recommendations from the Forum are already informing policy development, including work on energy affordability for businesses, while the Red Tape Challenge initiative is reviewing permit, licensing and regulatory requirements to identify opportunities for simplification. Changes to the Enhanced Reporting Requirements (ERR) were a specific recommendation from the Forum. A cross-Government programme is now being developed to implement priority recommendations, with the objective of reducing business costs, improving the overall enterprise environment and supporting sustainable economic growth.

Building on the work of the Cost of Business Advisory Forum, Budget 2027 introduces greater flexibility in Enhanced Reporting Requirements by allowing businesses the option of monthly reporting. This change responds directly to employer feedback and forms part of the Government's broader agenda to reduce administrative burdens and improve competitiveness.

5. An additional €666,000 for InterTradeIreland will support the delivery of an expanded range of SME programmes and services. The funding will help more businesses seize opportunities for innovation, productivity improvement and cross-border growth. This investment is complemented by additional funding from Northern Ireland's Department for the Economy, reflecting a shared commitment to supporting enterprise development across the island.

6. The AI Office of Ireland will expand staffing and specialist capabilities in 2027 to support implementation of the EU AI Act, including the development of Ireland's first AI Regulatory Sandbox and a national AI Literacy Programme. The Office will establish a dedicated technical and innovation directorate during 2027 to support responsible AI innovation and deployment.

7. Local Enterprise Offices (LEOs)
Targeted investment to support more Irish small businesses to digitalise, adopt AI technologies, improve cybersecurity and reduce energy costs.

• Additional investment in the Energy Efficiency Grant.
• Additional funding to invest in a new client relationship system across the LEO network.
• This investment will underpin the reforms and modernisations in the network that are being introduced by Minister Burke.
• The client relationship management system will improve supports and services for businesses by allowing for more meaningful face-to-face engagement with LEO advisors, provide a better quality of customer service for clients, and simplify their engagement with LEOs.

8. Government commitment to develop up to three large-scale Next Generation Sites to attract investment in high-growth sectors such as semiconductors and life sciences. Additional funding in 2027 will support IDA to recruit specific expertise to develop and deliver this initiative. The initiative supports IDA Ireland's ambition to direct 55% of all new investments outside Dublin, strengthening regional development and competitiveness.

9. Disruptive Technologies Innovation Fund (DTIF)
An additional €6.5 million for the Disruptive Technologies Innovation Fund will bring total 2027 investment to €37.5 million, supporting ongoing collaborative industry-academic disruptive technology research projects that drive innovation, strengthen enterprise competitiveness and create high-value jobs.

More than €530 million has already been allocated to 131 highly innovative projects under the first seven DTIF calls. An additional €40 million has been made available under Call 8, which is now open for new applications until 3 February 2027.

ENDS

For further information please contact Press Office, Department of Enterprise, Tourism and Employment, press.office@enterprise.gov.ie or (01) 631 2200

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