Key schemes suffer in gloomy estimates

THE Department of Enterprise Trade and Employment’s spending potential was increased by just under 3% to €1.427 billion in the pre-budget estimates for 2008.

However, a number of key schemes did suffer compared with the estimates predicted for 2007.

One of the most notable is capital spending for FÁS which was cut by more than 50% from €25 million to €12.5 million.

Elsewhere ‘equal community’ initiatives were also hard hit, dropping by 56% from €5.628 million to €2.5 million.

However, there was a boost for the workplace innovation fund which increased by 189%, rising from €950,000 to €2.75 million.

Enterprise Minister Micheál Martin welcomed the funding allocation.

“I am pleased that provision has been made for priority areas within my department to sustain our economic and employment growth,” he said.

In particular, he welcomed the allocation of €289 million for science, technology and innovation programmes which, he said, would allow Ireland to continue to build its science base and ensure that the country has the capacity to attract foreign direct investment and improve competitiveness through innovative products.

He said the €344 million would allow the IDA Ireland, Enterprise Ireland, Shannon Development and the City and County Enterprise Boards to promote entrepreneurship, improve export performance, attract foreign investment in high value-added manufacturing and services, and contribute to balanced regional development.

Based on the figures published yesterday, the National Training Fund will provide €403 million in 2008 for the training and upskilling of the labour force.

The department said that funding will be directed at a range of activities, with a particular emphasis on upskilling people already in employment.

Additional funding for this area is being provided to programmes operated by Skillnets and FAS.

The National Consumer Agency was given a €2 million or 24% increase in the 2008 estimates rising to €10.4 million.