In the age of Trump 2.0, 20-year-old R&D tax credit regime needs more than just a rate rise

In the age of Trump 2.0, 20-year-old R&D tax credit regime needs more than just a rate rise

Radical rethink and broadening of whole project – in which companies can claim 30pc of their R&D spend back – is required if we are to continue to punch above our weight in attracting FDI

With tariff barriers, rising protectionism, increasing global competition for FDI and rapidly changing innovation, standing still is not an option. Photo: Getty Images

Global trade tariffs look set to be a feature for the foreseeable future and global competition for investment is becoming ever more intense, so Ireland’s ability to attract and retain foreign direct investment (FDI) will be increasingly tied to its commitment to innovation.

The Research and Development (R&D) tax credit, introduced in 2004, has b