asked the Minister for Industry and Commerce if he is aware of public anxiety in relation to the large number of British and other non-Irish companies being established here for the purpose of acquiring and developing land and other property in this country; and whether the Government propose to take any action in the matter.
Ceisteanna — Questions. Oral Answers. - Land and Property Development.
85.
My attitude towards the acquisition and development of land and other property by non-Irish companies is related to the circumstances of the case, and in particular the purposes of the acquisition. Where, for instance, the purpose is the establishment of a new industry or the worthwhile development of an existing one, the acquisition will ordinarily be welcome. Where, however, it represented no more than the take-over of an existing industry which had been in Irish ownership, or a venture in the field of distribution, I would not normally favour it. As I have said in reply to an earlier question, I am keeping the position under review and will be prepared to take action swiftly if at any time it appears to be called for. Land and property acquisitions for other reasons, such as for building or agricultural purposes, are not of course, the concern of my Department.