The Irish Exporters Association strongly welcomed the announcement today by An Tanaiste Mary Coughlan of the €250 million Employment Subsidy Scheme to protect up to 27,400 vulnerable jobs in the export sector.

John Whelan, CEO of the IEA stated:

"This is an important first move on the direct support for employment retention in the export sector, which accounts for, both directly and indirectly, approximately 50% of private sector employment."

The IEA have consistently been addressing Government since last December for a stimulus package of €1 billion as a minimum to prevent vulnerable export companies collapsing.

In this context, John Whelan stated:

"The current scheme will assist 9% of employment directly in the sector and there are more companies and employees at risk. However, we accept An Tanaiste's assurance that this is the first leg of a pilot scheme which, if successful, will be expanded up to the €1 billion stimulus needed."

He went on to say:

"Wage payments are an immediate weekly cash flow issue for exporters. This new scheme must be implemented rapidly and with the minimum of administrative red tape if it is to be effective. Many of the features of the scheme will need revision as the pilot scheme is rolled out. And the IEA will be working with EI and IDA to ensure the most flexible added value approach is taken, inclusive of review of the sub- supply companies to the export sector."

John Whelan concluded by saying:

"Export led recovery from the recession is clearly our best option but it will need faster and more consistent stimulus measures than have been given to date by the government."

For more information, please contact John Whelan on 01-661-2182