RD:THE GOVERNMENT cannot say how many jobs may be created as a result of the State's enterprise strategy over the next two years.
Minister for Jobs, Enterprise and Innovation Richard Bruton yesterday said his department had been allocated €514 million for 2012, its highest ever level, and €458 million in 2013.
He said that, as a result of new rules allowing agencies, such as Enterprise Ireland, to keep money generated from their own activities, the State would spend a total of €1 billion on its enterprise strategy over the next two years.
IDA Ireland, which is responsible for drawing multinational investors, intends to increase on the 11,000 new jobs that it has supported this year, while Enterprise Ireland, which focuses on Irish businesses, will aim to support over 8,000 new posts.
The spending announced yesterday will allow for a 4 per cent increase in Enterprise Ireland’s capital budget for next year, and will ensure that the IDA will have the money it needs to deliver on its targets over the next five years.
While the State spend on scientific research has seen a minor drop for 2012, the decision has generally been welcomed by those affected. Groups representing working scientists, however, warn that the reduction will encourage more researchers to emigrate.
The 2012 allocation to funding body Science Foundation Ireland dropped by 3.1 per cent from €161 million to €156 million.
The other large funder, the Programme for Research in Third Level Institutions, has about €293 million available to it.