Dáil Éireann Debate, Thursday - 16 December 2004
78 Mr. S. Ryan asked the Minister for Enterprise, Trade and Employment the progress made in his consideration of the recommendations contained in the annual report of the National Competitiveness Council which he launched on 14 October 2004. [33758/04]
View answerIn its most recent report the National Competitiveness Council, NCC, included recommendations on maintaining a competitive taxation system while financing public investment. The NCC highlighted the importance of ongoing improvements to physical infrastructure as a critical factor in our competitiveness.
The Government recognises that economic competitiveness remains critical to our future well-being and this was pivotal in forming the recent budget. In budget 2005, the Government has committed itself to maintaining its high level of investment in infrastructure through the multi-annual capital envelopes, committing €36.3 billion over the next five years. This is almost twice the European average. The need for value for money for capital expenditure was also highlighted in the budget. The Department of Finance is due shortly to publish revised guidelines concerning the appraisal and management of capital projects. The budget also reiterated the Government's commitment to a taxation system that is designed to expand our economy, reward work and alleviate the tax burden for the lower paid. The Government also increased tax relief on certain third level fees, thereby increasing the affordability of higher education and promoting upskilling and lifelong learning among our workforce. All these areas were identified by the NCC in their 2004 report.
The NCC made a number of other recommendations in the areas of entrepreneurship, enterprise development, innovation and creativity. These and other recommendations are being considered by an interdepartmental group which is chaired by my Department. This interdepartmental group will prepare a report to Government on the recommendation early next year.
