asked the Minister for Industry and Commerce whether he has satisfied himself with the rate of reduction in expenditures for capital purposes such as factory premises and, more recently, "science parks", by the IDA; and if he will make a statement on the matter.
Written Answers. - IDA Capital Expenditure Cuts.
21.
While the availability of factory buildings and high-tech units is a necessary part of industrial development strategy, it is essential to guard against an oversupply of these facilities. Recent policy in this regard has addressed this issue.
Capital expenditure by the Industrial Development Authority on its building operations has decreased from £77 million approximately in 1981 to an estimated expenditure of up to £22 million in 1987. This represents a very significant rate of reduction in expenditure with which I am satisfied.
Expenditure in 1987 relates to contractual commitments arising from work which commenced in previous years and expenditure on buildings for particular high-technology projects which cannot be accommodated in a normal advance factory.
Since 1984 the IDA have funded their building programme from the sale of existing properties. There has been no direct subvention from the Exchequer for this purpose.