Mary O'Rourke
Question:94 Mrs. O'Rourke asked the Minister for Enterprise and Employment the amount of the proposed 1995 Estimate for the IDA that is already due to projects approved. [2376/95]
Written Answers. - IDA Budget Allocation.
As the Deputy will be aware, the proposed capital grants budget allocation for IDA Ireland for 1995, as published in the abridged Book of Estimates, is £81 million. This compares with an allocation of £49.6 million in 1994.
I am advised that, on examination of projects approved up to 31 December 1994, it is estimated that likely payments arising from these approvals would be of the order of £74 million. In addition IDA Ireland will have access to further resources made up of grant refundsrepayments and reimbursements from the European Structural Fund. It should be remembered that in a particular year the bulk of grant payments will be in respect of projects approved in previous years. Accordingly, there is no direct correlation between IDA Ireland's capital grants allocation in any one year and the number of projects approved in that year.
In terms of job creation IDA Ireland had an exceptional year in 1994 — when a total of 9,740 new jobs were created and recruited. When job losses are taken into account there were 5,300 more people employed in IDA backed companies at the end compared with the start of the year. I have every confidence that the budget proposed for 1995 will facilitate IDA Ireland in continuing the current strong performance of the overseas sector in the creation of jobs.