asked the Minister for Finance the amounts, in sterling, received from the EEC Regional Fund in each year since 1973; the amount of grants approved in each year; the national expenditure involved; and the amount of additional national expenditure which would have been required in each year to attract the EEC grants.
Written Answers . - EEC Regional Fund .
136.
: The European Regional Development Fund was established in March 1975.
With regard to the first three parts of the question, the following is a tabular statement giving the information for the years 1975 to 1977:—
|
Year |
Amounts Received* |
Grants Approved |
National Expenditure involved in grants approved (including Fund contribution)** |
|
£ million |
£ million |
£ million |
|
|
1975 |
1.8 |
8.3 |
21.1 |
|
1976 |
8.5 |
14.4 |
44.5 |
|
1977 |
8.5 |
12.6 |
35.9 |
* Receipts from the Fund over the 1975-77 period were less than the amount of grants approved because there is a time lag between approval of grants and actual payments which are made pari passu with national expenditure on projects.
** The amounts shown in each year refer to the total expenditure by public authorities over the duration of the projects approved in that year. (In the case of industrial projects, the amounts refer to expenditure on industrial grants).
In relation to the last part of the question, the Regional Fund makes only a partial contribution to the financing of projects; in the case of industrial projects, 20 per cent of the investment cost, or 50 per cent of national expenditure, whichever is the lesser, and in the case of infrastructural projects, a maximum of 30 per cent of the cost. Accordingly, as the Deputy is aware, only projects which are already being financed from within the Public Capital Programme are submitted for Fund assistance. Receipts from the Fund which are a partial recoupment of the original national expenditure are at present used to finance increases in the Public Capital Programme.