Gerry Adams (Louth, Sinn Fein)
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Question 77: To ask the Minister for Jobs, Enterprise and Innovation the targets he has set for job creation every year through the four year budget cycle outlined in the medium term fiscal statement. [35940/11]

Richard Bruton (Dublin North Central, Fine Gael)
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The Medium Term Fiscal Statement was published by the Minister for Finance on 4 November and outlines macroeconomic projections for the period 2011 to 2015. The Government subsequently published its Medium Term Framework for Infrastructural and Capital Investment on 10 November, to cover the period 2012 to 2016. The Capital Investment Framework places a focus on economic growth and jobs, as well as addressing social cohesion and environmental sustainability. In total, €2.334 billion is being provided to my Department's Vote from the Capital Investment Framework to support jobs, enterprise and innovation over the period 2012 to 2016. A further €900 million is being invested by my colleagues in programmes related to tourism, agriculture, food and the marine, all of which deliver major economic and jobs benefits.

Capital funding for my Department's enterprise development agencies will be protected or enhanced over the medium-term. A number of new initiatives will also be funded, including a Partial Loan Guarantee Scheme and Innovation Fund Ireland. There will also be an increased focus on accelerating High Potential Start-Up companies. As a consequence, I expect the enterprise development agencies to deliver on their ambitious jobs targets of over 110,000 gross new jobs over the five years of the programme to 2016. This represents an average of 22,000 new jobs per annum.

Every new job is estimated to have a multiplier effect, so the overall impact on job creation of these activities is estimated at 220,000 gross new direct and indirect jobs. The environment for business and job growth is, of course, affected by international economic conditions and our own competitiveness. In recognition of this, I am conducting a review of our policies and I plan to publish a Jobs Strategy early in the New Year to ensure that policies are adopted which maximise job opportunities.