Ms O'Rourke said that the Electronic Commerce Bill is critical to ensuring Ireland benefits from the rapid growth expected in e-business in Europe over the next 3 years. "At the moment, e-commerce in Europe is worth about £14 billion, but this will soar to £270 billion by 2003. We have to make sure we are ready to tap into this spiralling growth," Ms O'Rourke said.

The bill was prepared following public consultation last year and will now be put on the Government's 'A-list' to ensure its passage by Easter. The legislation will grant electronic signatures, documents, and contracts, the same legal status as their paper-based counterparts, and give electronic records equal status as evidence in legal proceedings. The legislation also includes fines of up to £500,000 for fraud crimes involving the abuse of electronic signatures.

The consensus view of the Government is that early enactment of the bill will make Ireland a more attractive location for new e-commerce start-ups and will provide a framework for the electronic delivery of Government services. According To Ms O'Rourke, the fast tracking of the legislation will ensure that Ireland remains an attractive location for e-business. "This legislation will be a first in many respects. No other country has taken such an all encompassing approach to legislation," Ms O'Rourke said.