asked the Minister for Industry, Trade, Commerce and Tourism if he considers that the US public money market flotation of the Irish shares of the Institute of Clinical Pharmacology introduces a new and welcome dimension into Irish industrial financing; and if he agrees that its incorporation into the IDA's Enterprise Development Programme is desirable, in the sense that it would underline the international acceptance of Irish manufacturing skills and if he will make a statement on the matter.
Written Answers. - Industrial Financing.
484.
As access to public money markets — including those in the US — has the potential to contribute to improving the equity base of Irish industry, I would generally welcome the move referred to in the first part of the Deputy's question. I understand that the vast majority of projects assisted under the Industrial Development Authority's Enterprise Development Programme would not be of a sufficient scale to warrant equity flotations on the US public money markets. While the IDA attempts to ensure that all such projects have a satisfactory equity base, it is primarily a matter for the individual promoters to determine the appropriate manner in which this should be achieved.