“Research and innovation will lie at the heart of Ireland’s resilience in the face of the global trade turbulence now being experienced, and of the sustainability of the Irish economic model, having regard to both foreign-owned and indigenous enterprise. 

“One of the core messages of the 2024 Draghi report on The Future of European Competitiveness is that the EU needs to close the innovation gap with others such as the United States and China.

“In his report, Mr Draghi emphasises that research and innovation are the main drivers of productivity and people’s well-being. He also highlights that faster innovation will help to raise the European Union’s productivity growth, leading to stronger growth in household incomes and stronger domestic demand.

“The shifting policy emphasis in the United States is resulting in budgetary cuts for key research funding agencies such as the National Institutes for Health, and uncertainty for the research community there. My officials are currently examining how Ireland can best respond to the changes in the US research environment and how it can reflect evolving international good practice in this space.

“I welcome the strong recognition at today’s Forum of the vital role played by Ireland’s higher education and research system in delivering a strong pipeline of skills and talent for the Irish economy. I plan to ensure that the Irish research and third-level educational landscape is resourced and supported to continue developing the skills and knowledge that are vital for our economic prosperity.”

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