asked the Minister for Industry, Commerce and Tourism the estimated total sums subvented to the IDA from State funds from their inception to date.
Ceisteanna—Questions. Oral Answers. - IDA Subventions.
8.
As the reply is in the form of a tabular statement, I propose with the permission of the Ceann Comhairle to circulate it with the Official Report.
Following is the statement:
The total sums granted to the IDA from State funds for the period from their establishment in 1950 to the end of 1980 were as follows:
|
IR£ |
|
|
Capital Grants-in-Aid |
669,427,365* |
|
Administration Grants-in-Aid |
53,016,003 |
|
Repayable grants for industrial housing (1976-80) |
3,306,615 |
|
Total: |
725,749,983 |
*Includes capital grants to An Foras Tionscal 1952-69, of IR£51,483,266. Under the Industrial Development Authority Act, 1969, An Foras Tionscal were dissolved and their grant giving powers were given to the IDA.
Does the Minister say that he cannot give an estimate of the total sum subvented to the IDA funds?
I can give the Deputy a total but it is broken down into various subheadings. The total is £725,749,983.
That is nearly £1 billion. Would the Minister agree that, in view of the enormous loss of tax revenue because of various general conditions and the great tax burden involved in finding this money, and also the fact that questions yesterday showed that new job creation is approximately 5,000 or 6,000 a year over that period and that the net need is approximately 30,000 a year, the IDA simply are not serving their purpose?
A question, Deputy please. We are at Question No. 8 after 25 minutes.
Would the Minister agree that some alternative strategy has to be found if we are not to go on depending on either high emigration——
This is a statement.
I disagree totally with what the Deputy has said, to take the last point, for example. We have had immigration of about 13,000 people per annum into the country over the last ten years.
Is it not a fact——
Ceist a 9.
——that 130,000 people are unemployed?
Would the Minister please go on with the answer to Question No. 9?
It is a waste of money.