Richard Bruton (Dublin North Central, Fine Gael)

For the current year 2011, a total allocation of just over €631 million has been provided in funding for the IDA, Enterprise Ireland, Science Foundation Ireland and the county enterprise boards. This allocation comprises both current and capital funds and is provided for ongoing agency activities, including the attraction of foreign direct investment, enterprise development and support programmes, the development of science and technology programmes and promotion activities of these enterprise agencies.

These enterprise agencies have a crucial role to play in supporting economic recovery and driving sustainable employment growth in the years ahead. They will support the enterprise base from micro-scale enterprise to the largest multinational and help our enterprises build a competitive edge to compete in the global market place.

I am determined that every euro spent by these agencies is achieving the maximum possible impact in pursuing the central Government objective of maximising employment opportunities. I am examining all programmes and priorities to evaluate their performance in meeting this challenge. The Exchequer allocations to the respective agencies cited by the Deputy in his question for 2011 are as follows: the IDAhas been allocated €124.577 million, of which €86 million is capital and €38.577 million current funding; Enterprise Irelandis in receipt of €304.482 million from my Department, of which €203.89 million is capital and €100.589 million current funding; Science Foundation Ireland has a budget of €175.142 million, of which €160.8 million is capital and €14.342 million current funding; and county enterprise boardshave been allocated €27.242 million, of which €15 million is capital and €12.242 million current funding.

The Government has announced that it will undertake comprehensive spending reviews of existing capital and current spending in the months ahead and consequently allocation of funding for future years, 2012-15, will be considered as part of that process. The purpose of the review is to find efficiencies, to undertake reforms and to align spending with the priorities set out in the programme for Government. My Department will be fully engaged in that spending review. The activity and expenditure of enterprise agencies will be examined by my Department in the context of the expenditure review and the findings will determine the level of future funding.

It would be my aim to provide the level of support necessary to enable the enterprise agencies deliver on their remit to help enterprise to flourish and provide sustainable jobs.

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