News

Shannon Chamber welcomes the announcement by Minister for Further and Higher Education, Research, Innovation and Science, James Lawless TD, that he has received approval from Government  to draft legislation amending the National Training Fund (NTF) Act. This important step will enable the release of a €1.5 billion funding package for the tertiary education sector, announced in Budget 2025 and spread over the period 2025–2030.

As the operator or a Skillnet  Business Network, Chamber CEO Helen Downes has said that the the proposed amendments to the NTF Act will ensure that the significant surplus built up in the Fund—estimated at €1.8 billion by the end of 2024—can be directed where it is most needed – to  skills development, training access, and future workforce readiness.

This landmark investment includes:

• €650 million in core funding for higher education institutions;
• €600 million in capital funding to develop new and existing training infrastructure, particularly in healthcare, veterinary, and further education sectors;
• €235 million in one-off current funding to strengthen skills, apprenticeships, and upskilling opportunities.

“Shannon Chamber strongly supports this strategic focus on skills and workforce development, which aligns with the needs of our members and the regional economy. The capacity to fund training programmes, apprenticeships, and future-focused research will directly benefit enterprises seeking a resilient, adaptable, and skilled talent pool. We see this as an opportunity to alleviate the increased cost of business for smaller firms via subsiding training for SMEs.

“We commend Minister Lawless and the Department for engaging with key stakeholders to ensure this legislation meets the evolving needs of industry and learners alike. This gives employers a stronger voice on how the NTF is spent.

“This initiative represents a powerful commitment to building a dynamic, innovation-driven economy, ensuring Ireland remains competitive on the global stage.