asked the Minister for Industry and Commerce the number of jobs created by the National Development Corporation since it was established; and if he will make a statement on the matter.
37.
Ceisteanna—Questions. Oral Answers. - NADCORP Investment Job Creation.
30.
asked the Minister for Industry and Commerce the number of jobs which it is hoped to have created as a result of NADCORP's involvement; and if he will make a statement on the matter.
I propose to take Questions Nos. 30 and 37 together.
The general duty of NADCORP is to assist in the creation of the maximum amount of viable employment in the State by way of equity investment on a commercial basis in companies. Currently there are 1,620 persons employed in companies in which NADCORP holds investments and employment in these companies is projected to rise to 2,500 over the next three years. These numbers would, where relevant, include those employed prior to the NADCORP investment. The NADCORP investments serve to underpin existing jobs and, by strengthening companies, provide the basis for further growth.
In his reply the Minister indicated that the number of persons employed in companies in which NADCORP hold investments is projected to rise to 2,500 over the next three years. Can the Minister tell us how many jobs have been created over the last three years?
As I said, currently there are 1,620 employed and this figure is expected to rise to 2,500. Information on the companies concerned is available in the annual report of NADCORP. The 1988 annual report is due out at the end of June in which the companies will be listed. Therefore I would refer the Deputy to the annual report.
It is quite easy to find out the number of employees employed in companies in which NADCORP hold investments but it is very difficult to find out the number of new jobs created as a result of investment by NADCORP since its establishment. That is why the question was put down.
I have already answered the question. I would refer the Deputy to the annual report.
If the Minister has the information available would he kindly give it to me? He tells me I can get it elsewhere. I am asking the Minister to tell me——
This should not lead to argument.
That is the purpose behind asking Ministers questions.
If the Deputy is not satisfied with the Minister's reply he does have a remedy.
On a point of order, the Minister has indicated where I can get the information.
That is not unusual in this House, Deputy.
It is the Minister's responsibility to provide this information to me.
Question No. 31.
May I ask a brief supplementary?
Excuse me, a Cheann Comhairle, the Minister is about to reply.
I have called the next question. Question No. 31, please.
May I ask a very brief supplementary question?
Please, Deputy Cullen and Deputy Mac Giolla——
The Minister was about to reply to the question I asked.
I was not.
If the Minister wishes to reply the Chair will not intervene.
As I have already said, the information is available in the annual report of NADCORP. After two years in operation NADCORP are making satisfactory progress overall. Currently, they hold investments in over 50 smaller companies with a value of around £17 million. The report for 1987 shows that investments approved by NADCORP between 11 June 1986 and 31 December 1987 totalled £11,416,000. Investments made in the period 11 June 1986 and 31 December 1987 totalled £10,927,000. Investments held at 31 December 1987 were valued at £12,983,000. The report also gave details of the 42 companies in which NADCORP held investments at 20 April 1988, including investment transferred from the National Enterprise Agency. The details of the investments are given. The actual amount paid for each investment is not disclosed, for very good commercial reasons. The 1988 report is due to be published in June and it is not my intention to anticipate what may be contained in that report.
For all of the investment——
I have given the Deputy the information.
Are there any jobs?
Currently, 1,620 are employed in companies in which NADCORP hold investment. Employment in these companies is projected to rise to 2,500 over the next three years.
Nothing so far.
Can the Minister tell us if the position of NADCORP is being considered by his Department and what future role they are to have, if they are to have a role in the future at all?
I see NADCORP continuing. There is no question of any interference with their operations.