Bernard Durkan (Kildare North, Fine Gael) | Oireachtas source

I will speak on the research and development element. There is a theory somewhere that research and development should be abolished or minimised in certain circumstances, in order to be seen to be fair in respect of personal income for individuals involved. That is not the thing we should get into. The whole concept of research and development is to ensure we are competitive as an economy. Those who do not indulge in research and development are vulnerable. It is no good talking about it. We live in a competitive society. One could say there are shark-filled waters. All our competitors are investing heavily in research and development at present and will continue to do so. If we do not allow and encourage that to take place here, whereas six months or a year ago, everybody was saying we were the third, fourth, or maybe even the richest country in the world, that could disappear overnight. There are already signs of challenges on the horizon.

They have been repeated in recent weeks. It is hugely important we take account of that. Many major international companies now operating globally started in the garage at the bottom of the garden or wherever it was. If it were not for research and development, they would not have developed to that extent at all.