Departmental Bodies

Thursday, 11 May 2023

Questions (152)

Louise O'Reilly

Question:

152. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment the financial return generated from Enterprise Ireland investments in 2022; and the projected return for 2023. [22195/23]

View answer

Written answers

Minister of State at the Department of Enterprise, Trade and Employment

In 2022, Enterprise Ireland had an investment income target, as part of its Own Resource Income (ORI) sanction, of €69m and it received €87m proceeds from investment activity.

In 2023, as part of the annual Own Resource Income sanction request from DPER, Enterprise Ireland has an investment income target of €75m from investment activity.

Any excess ORI generated above the sanctioned amount is either returned to the Exchequer as Extra Exchequer Receipts, or retained by Enterprise Ireland subject to additional sanction by the Department of Public Expenditure NDP Delivery and Reform with a corresponding reduction in the Exchequer allocation drawdown by Enterprise Ireland.