IT contractors may receive a jobs boost, as the European Union makes a €6.4 billion (£5.37 million) investment in research and innovation jobs.

Commissioner Maire Geoghegan-Quinn made the announcement concerning the stimulus, which will "advance scientific boundaries" through funding for universities, industry and over 3,000 small businesses.

Information and communication technology specifically will get a grant of €1.2 billion (£1 million).

Such investment in innovation is the only "smart and lasting" way of getting out of the economic crisis, with topics to be covered such as climate change, energy production, health and the ageing population.

"This European package will contribute to new and better products and services, a more competitive and greener Europe, and a better society with a higher quality of life," said Ms Geoghegan-Quinn.

Employment screening firm Powerchex recently produced research which indicated that job offers for IT contractors rose by 320 per cent from May to June.