Irish Trade Minister Pledges Increase In R&D Spending
According to reports in the Irish media this week, Minister for Enterprise,
Trade and Employment, Micheál Martin has unveiled plans to bring research and
development (R&D) spending in the Republic up to the European average of
1.9% of Gross National Product (GNP). Speaking at a conference jointly hosted by the Irish Business and Employers
Confederation (IBEC) and the American Chamber of Commerce in Ireland, Mr Martin
revealed that some progress has been made in this area, and that spending of
EUR2.5 billion has already been allocated to increasing R&D activity between
2000 and 2006 under the National Development Plan. However, under new goals set last year by the Irish government in its Action
Plan, business investment in R&D is supposed to increase from EUR917million in 2001
to EUR2.5 billion by 2010. "The next step is to turn goals into action," Mr Martin told those
attending the conference. The Enterprise Minister went on to praise initiatives such as the 20% tax credit
introduced this year for qualifying incremental spend as a step in the right
direction. .
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