Research funding ‘third worst in EU’

GOVERNMENT spending on research and development lags far behind most other EU countries, according to a new report.

An EU study shows that Ireland has the third worst record among the 15 EU member states with just 0.33% of GDP spent on R&D projects in 2002 - less than half the EU average of 0.75% of GDP.

Only Greece (0.28%) and Luxembourg (0.2%) spend less on this vital area of economic activity in contrast to France and Finland which committed over 1% of GDP to research and development projects last year.