Mary Butler (Waterford, Fianna Fail) | Oireachtas source

The figures can be interpreted in a different way. Ireland is ranked 32nd out of 63 countries in respect of research and development funding as a percentage of GDP. Recent EUROSTAT figures show that Ireland spends less than the European average on research and development. In 2017, just 1.05% of Irish GDP was spent on research and development, compared to an EU average of 2.07%. What is being done to ensure we reach the EU average spend? Will Ireland meet the 2020 target to spend 2.5% of GNP on research and development annually? We all understand how important it is. We are well aware of the good work that goes on in our own Waterford Institute of Technology, WIT. That institute places a strong emphasis on research and development. With the way the world is evolving, there is no doubt about it but that it will be the way forward for business, enterprise and innovation.

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