Written answers

Tuesday, 19 January 2010

Department of An Taoiseach

Smart Economy

9:00 pm

Photo of Ruairi QuinnRuairi Quinn (Dublin South East, Labour)
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Question 142: To ask the Taoiseach the actions taken by him to implement the proposals set out in Building Ireland's Smart Economy; and if he will make a statement on the matter. [48239/09]

Photo of Ruairi QuinnRuairi Quinn (Dublin South East, Labour)
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Question 148: To ask the Taoiseach the actions taken by him to implement the proposals set out in Building Ireland's Smart Economy; and if he will make a statement on the matter. [47883/09]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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I propose to take Questions Nos. 142 and 148 together.

The Government's Smart Economy Framework for sustainable economic renewal was produced in December 2008. Implementation is the responsibility of relevant Ministers but is overseen by the Cabinet Committee on Economic Renewal, which I chair. Some examples include:

market testing of the Innovation Fund proposed is currently being undertaken by the NTMA, testing the best way to design the Fund with venture capital companies and other stakeholders;

tax changes to support the Smart Economy include an improved R&D tax credit, new tax arrangements for IP, tax incentives for start-up companies and to encourage venture capital companies to locate in Ireland;

the Innovation Alliance announced by Trinity and UCD to create a critical mass of research activity and dramatically increase the commercialisation of research outputs;

major new technology initiatives to support the Smart Economy including, development of a new International Content Services Centre and making Ireland the leading location for energy efficient data centres, like the Microsoft Centre I opened last September;

a smart metering initiative is being rolled out and there is an electric vehicles plan to have 10% of all vehicles powered by electricity by 2020. Progress is also being made towards our ambitious renewable energy target of 40% by 2020, including investment in new ocean wave technology research;

the Green Enterprise Group has reported with detailed proposals for the creation of new jobs and businesses in the Greentech area. As a result of that report, we are pressing ahead with ideas like the Green IFSC and Green Enterprise Zones; and the home insulation initiative which delivered in over 30,000 homes in 2009 is being increased dramatically with new funding for 2010.

a review of our Capital Programme to realign our capital investment - which is still over 5% of GNP - with the goals of the Smart Economy has been undertaken and as a result we will invest over €600m in the Strategy for Science, Technology and Innovation this year, even at a time of great budgetary pressure.

The Smart Economy Framework is a comprehensive strategy, covering not just innovation and R&D, but all aspects of our economic renewal strategy. The Government expects to publish an overall progress report within the next month. Responsibility for individual measures rests with relevant Ministers, to whom any specific questions should be directed.

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