Damien English (Meath West, Fine Gael) | Oireachtas source

This jobs budget is designed to support the recovery and hard-pressed families and to continue the future proofing of the economy. It is neither the hair shirt budget that some economists have called for nor is it the silk shirt that some in the Opposition seem to think we can afford. Rather, it is a prudent budget that will create jobs. It will remove barriers to work and make work pay, grow the economy and keep the recovery going while reducing the current account deficit.

Business groups in Ireland have welcomed this budget. Danny McCoy of IBEC said:

The budget is right for the economy at this time and signals a new phase of economic development. The crisis is behind us and we are planning ahead. The Government has taken on board the concerns of business, reduced tax and encouraged private investment.

ISME, the Small Firms Association, SFA, and the American Chamber of Commerce have also welcomed the budget. The SFA Chairman, A.J. Noonan, stated, "This budget is a strong endorsement by Government of the importance of entrepreneurship and small business in Ireland.” However, this is not just a budget for business and jobs. It is also a budget for our young families. My constituency of Meath West has one of the highest concentrations of young families in the country, with a youth dependency ratio of over 38%. One only has to walk around the streets of Navan, Trim or Enfield to see just how young our communities are. Our young population means we can look forward to a more hopeful future, but families cannot live on hope alone. They need help now and this budget does just that.

Cutting USC, raising child benefit and extending the free preschool scheme to accommodate all three year olds to five and a half year olds will benefit young families in Meath West and throughout the country. These families endured a lot of the pain in the recession and, therefore, it is only right that they get some of the gain from the national recovery. Talk to any parent on the doorsteps in Meath West, the commuter belt area or right across the country and it is clear that education and the future of our children is their major focus. This budget will recruit an additional 2,260 teachers and reduce class sizes. It will deliver a better education to our children and invest in career guidance. This will help our children choose the courses and skills they need to get a good job and build a better future. With this budget, young school leavers will now have a lot more choice in their career paths.

We are investing an additional €10.5 million effectively to double the number of apprenticeship schemes available in Ireland. These 25 new apprenticeship schemes will cover areas such as ICT, transport and logistics, financial services and tourism and hospitality and the bulk of these schemes will be delivered in 2016.

We must refocus the third level system to create a more enterprise responsive educational system. We must provide the skills that students and industry require. We are doing that. Future-proofing the economy is all about building skills at all levels, including our pool of research skills. Ireland’s future economic growth and prosperity will depend on our continued investment in science, technology and innovation. This investment is all about developing a competitive knowledge-based economy and society, driving innovation in enterprise, building human capital and maximising the return on research and development investment for economic and social progress.

Investment in research and development is crucial for creating and maintaining high-value jobs. In addition to the investment announced yesterday, my Department will be allocating an additional €29 million specifically for investment in research and innovation to spend before the end of this year. In addition to this, the overall 2016 capital investment will allow Enterprise Ireland to: support 100 innovative, high-potential start-up companies in 2016 employing 2,000 people; issue six competitive start fund calls with a target of financially supporting 85 innovative entrepreneurs; fund over 100 in-company research and development projects for companies that are valued in excess €100,000; continue the development of Knowledge Transfer Ireland and the wider national technology transfer system to create 30 new spin-out companies.

For Science Foundation Ireland, SFI, the 2016 allocation will allow SFI, among the other funds and projects it is involved in, to continue to fund the 12 SFI research centres, which represents an investment of €355 million from the Government and €190 million from over 200 industry partners, and train some 3,000 researchers for key positions in industry. Science Foundation Ireland will also undertake a recruitment campaign in partnership with the Irish universities to attract world-class researchers. Furthermore, there will be events such as Science Week in early November, when there will be over 800 events to encourage the public's interest in the STEM subjects so we can continue to have young people interested in these key areas for the economy in the years ahead.

I am pleased that Ireland's participation in the European Space Agency, ESA, will continue to support a growing number of Irish companies in the rapidly expanding European and global space markets. In this sector we will see a doubling of sales to over €80 million, a rise in total employment to over 2,300 and an expansion in the number of companies actively engaged with ESA to over 75. There is also continued funding for the regional Action Plan for Jobs, which will cover all regions, help spread the recovery and continue the trend where 70% of new jobs are created in the regions, despite what others might try to claim.

We are competing in an ever more competitive global environment. I am therefore pleased to report that work is almost complete on a new strategy for science, technology and innovation. It will be based on excellence, impact and talent. It is now time for fresh strategic ideas to make research work to maximum effect for the country. The vision for the new strategy will be underpinned by five key goals: an internationally competitive research system; excellent research with relevance and impact for the economy and for society; a renowned pool of talent in both academia and industry; a joined-up research ecosystem, responsive to emerging opportunities; a strong innovative enterprise base, growing employment, sales and exports. We must ensure that we have a world leading state-of-the-art research and innovation ecosystem in Ireland. I am confident that the forthcoming strategy will provide us with the roadmap to deliver on this ambition.

This budget charts a responsible, prudent path to fiscal stability, economic growth and opportunity. It marks a new stage in Ireland’s road to full recovery and a more sustainable future. It will support that recovery and will continue to future-proof the economy. I commend the budget to the House and to the country.

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