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Robbie Keane
Robbie Keane


Joined: 06 Feb 2008
Location: Ireland
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Points: 26163
Direct Link To This Post Topic: Good on ya Biffo
    Posted: 18 Dec 2008 at 12:25pm

The Government has launched its plan to boost the economy, detailing a number of measures which it hopes will attract new business to the country

Up to €500m is to be invested in a new venture fund to be known as Innovation Fund Ireland, which will support early stage research and development.

The announcement was made at the launch of what the Government calls 'Building Ireland's Smart Economy: A Framework for Sustainable Economic Renewal' .

Under the renewal programme, the multinational community will also be encouraged to engage in 'innovative high value activity and technological convergence' which will provide quality jobs.

Speaking at Dublin Castle, Taoiseach Brian Cowen said the Government will be engaging intensively with the Social Partners in the coming weeks and that process would be informed by the end of year Exchequer Returns.

He said it was time that Ireland captured ideas and commercialised those ideas in this country.

Read the speech in full

Minister for Health Mary Harney said the plan required a national effort like that in the mid-1980s when she said the country nearly went under.

The renewal programme also introduces a plan to drive entrepreneurship and business start-ups by introducing what the Government calls 'highly favourable taxation measures'.

These include a three year exemption from Corporation Tax for these new businesses.

The Government also said that 'greening' our economy would help turn it around and that putting energy efficiency at the heart of the strategy will protect us from future rises in energy costs.

The Taoiseach said that the aim of the Government's economic renewal programme is to have Ireland become the world's leading location for business innovation.

Mr Cowen was joined at the launch by the Tánaiste, the Minister for Finance and other Government ministers.

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