Manufacturing & Supply Chain

Engineering Industries Ireland, the Ibec group representing the industrial engineering, manufacturing, and engineering services sectors, has welcomed the Government’s ambition outlined in Budget 2025, particularly the commitment to review the R&D Tax Credit scheme in the coming year. EII believes that innovation is crucial in supporting businesses to evolve, meet challenges, and seize opportunities in an increasingly digitalised world. In the interim, the increase in the first-year payment threshold from €50,000 to €75,000 is positive. However, more needs to be done to incentivise the uptake of the R&D Tax Credit scheme, especially for SMEs.

Engineering Industries Ireland’s Chair, Ed Byrne of the Galco Group, stated: “Additionally, we welcome the investment in infrastructure of €3 billion, including funding for Irish Water, the Land Development Agency, and especially the €750 million allocated to our electricity grid infrastructure, as Ireland strives to meet climate targets.”

Pauline O’Flanagan, Director of Engineering Industries Ireland, added: “Ensuring that education and training remain essential components of Ireland’s competitiveness, we look forward to further details on the release of €1.5 billion from the National Training Fund (NTF) over a six-year period to 2030. This investment, comprising both current and capital funding, will better support research, further and higher education, skills development, and decarbonisation.”