asked the Minister for Industry and Commerce if he will give details of the recent Government decision to the effect that the IDA dispose of assets of £5 million; if he has issued guidelines to the IDA in connection with the implementation of the decision, and if so, if he will give details of same.
Written Answers. - Disposal of IDA Assets.
28.
The fundamental concern which the Government had on returning to office in March 1987 was to restore order to the public finances and, thus, create an environment conducive to investment and economic growth. Achievement of the Government's budget strategy necessitated an equitable spread of savings throughout all sectors of the economy. As part of this process the Government decided that the IDA could dispose of a portion of its large portfolio of land and buildings without unduly affecting the promotion of industrial development. Accordingly, at the request of the Government, the IDA has drawn up a detailed schedule for the rationalisation of its property portfolio designed to raise £5 million for the benefit of the Exchequer. The properties being disposed of have been carefully selected by the IDA to ensure an even regional spread while maintaining sufficient sites in each region for the promotion of new industry.
No guidelines were issued by me to the IDA in relation to the implementation of the Government's decision. The IDA is responsible for the day-to-day implementation of industrial policy and is in the most objective position to determine the most appropriate properties for disposal.