Seanad debates

Friday, 4 July 2003

Industrial Development (Science Foundation Ireland) Bill 2002 [ Seanad Bill amended by the Dáil ] : Report and Final Stages.

 

I praise the Bill for what it seeks to do and ask the Minister of State to keep an eye on the Department of Education and Science which will have to provide money to back up the research being carried out in other disciplines. We are trying as best we can to raise funds within the universities. However, when very rich people have lost one third of their wealth, as they see it, with the fall in the value of shares, they are not as enthusiastic as they have been about giving. Low interest rates also mean we are getting a poor return on our investments. Therefore, to support the foundation, we need to make sure we put as much money as possible into other areas of research in third level institutions.

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