asked the Minister for Industry and Commerce if he is satisfied that the twenty-five per cent grant to existing businesses for adaptation purposes is fair, taking into account the much larger grants to new industries usually paid to foreigners; and if he will take steps to increase this adaptation grant.
Ceisteanna—Questions. Oral Answers. - Adaptation Grants.
13.
I am satisfied that the twenty-five per cent grant to existing businesses for adaptation purposes is fair in comparision with the fifty per cent grant to new industries. The Deputy will, no doubt, appreciate that the established firm has the advantages of plant and machinery which has been depreciated, workers who have been trained over a period and, in some cases, tariff protection for many years; and also that, in the cases of new firms, the 50 per cent grant is a maximum which is made available for the purpose of manufacturing something which has not been produced here before or to an insufficient extent or alternatively is exclusively intended for export. I do not propose, therefore, to take steps to increase this adaptation grant.