Dáil Éireann Debate, Wednesday - 30 April 2014
264. Deputy Dara Calleary asked the Minister for Jobs, Enterprise and Innovation the estimated gross contribution of the Industrial Development Agency Ireland supported companies to the GDP output of the economy; and if he will make a statement on the matter. [19124/14]
View answer266. Deputy Dara Calleary asked the Minister for Jobs, Enterprise and Innovation the total estimated tax contribution to the Exchequer in terms of payroll and corporation tax of the Industrial Development Agency Ireland supported companies; and if he will make a statement on the matter. [19126/14]
View answerI propose to take Questions Nos. 264 and 266 together.
Foreign Direct Investment (FDI) has been, and will continue to be, an integral part of Ireland’s economic development strategy. Foreign-owned firms contribute substantially to Ireland’s exports, jobs, expenditure in the Irish economy and to Exchequer funds. FDI plays a key role in stimulating the development of new sectors in Ireland, in enhancing our research, development and innovation performance and in accelerating the achievement of critical mass within sectors. The latest available figures from the Central Statistics Office (CSO) show total Gross Value Added (GVA), accounted for by foreign-owned multinational enterprise dominated sectors stood at 25.3% in 2011. Gross value added is conceptually similar to GDP but examines production on a sectoral level rather than final expenditure type. Gross value added excludes product taxes and subsidies.
Details of the total estimated contribution to the Exchequer in terms of payroll and corporation tax for the past 3 years as per the most recent 2012 Annual Business Survey of Economic Indicators (ABSEI) is set out in the following tabular statement.
Table shows estimated contribution to the Exchequer in terms of payroll and corporation tax for the last 3 years
|
Indicator |
2010 |
2011 |
2012 |
% change - 2011-2012 |
|
Irish Economy expenditure, €m of which |
17,783 |
19,748 |
20,818 |
5.4% |
|
Total Payroll Costs |
7,398 |
7,780 |
8,072 |
3.8% |
|
Irish Materials |
1,638 |
1,912 |
2,364 |
23.7% |
|
Irish Services |
8,747 |
10,056 |
10,381 |
3.2% |
|
Corporation Tax €bn |
2.8 |
2.7 |
2.8 |
3.7% |
