Peter Burke (Longford-Westmeath, Fine Gael)

In respect of Carelon Global Solutions, we are working closely with the company. There is an established protocol in the Department for any company that is encountering difficulty or making announcements. We are the first responders in there working with them, providing skills and ensuring they have the pathway to further training and redeployment. That is a big challenge in some of the at-risk sectors. IDA Ireland is very clear on doing a risk profile. We try to get investment into such companies early and foresee the pressures that are coming. Research and development grants we have provided to a number of companies really cement the next product line and embed the next level of patents and IPs. That will be critical for our future. We have done that on a number of occasions.

In an economy at full employment, there are always pressure points. We look at the risk profiles, which are so important to us. This is one thing on which I challenge the IDA regularly. We need to foresee the problems in the next six, eight, ten months or two years and try to see what we can do now to embed that employment into our economy. We are very much to the forefront in doing that and the next strategy really sets that out. I particularly wish to mention the €7.5 billion in research and development investment by the IDA over the next five years, which will mean a 400% increase in research and development investment over the past decade.

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