asked the Minister for Industry and Commerce if, in the light of the revelation in the report of the Industrial Development Authority that 76 per cent of investment in new State-assisted industry came from overseas, he will consider higher grants for investments in industry by Irish nationals.
Ceisteanna—Questions. Oral Answers. - Investment in Industry.
61.
I understand the level of grant assistance given to industrial projects by the Industrial Development Authority is based on their estimate of the benefits which will accrue from the establishment of a project and Irish nationals receive as favourable treatment at nationals of any other country. I am not aware that the existing grant levels have tended to discourage Irish investment. In any event, the provision of higher grants to Irish nationals at this stage would amount to discrimination which would conflict with EEC regulations.
I may add that foreign investment makes a valuable contribution to our economic and industrial development by making available both the requisite technology and market outlets.