asked the Minister for Finance (a) if any arrangements are being made to examine Fóir Teoranta with a view to seeking clarification as to how its accumulated losses which amounted to £13,372,816 on 31 December 1982 arose; (b) the fees paid to the chairman and each ordinary board member; and (c) the amount being made available to Fóir Teoranta for 1982.
Written Answers. - Fóir Teoranta Losses.
811.
(a) No. I am satisfied that Fóir Teoranta's cumulative operating deficit has arisen as a necessary consequence of the carrying-out of the function of rescuing industrial firms in temporary difficulties for which it was established. I might draw the Deputy's attention to the fact that the Oireachtas Joint Committee on State-Sponsored Bodies have examined Fóir Teoranta and concluded, in their Seventeenth Report (April 1981), that Fóir Teoranta performs a most valuable function.
(b) The fee paid to the chairman is fixed at £1,500 per annum. Each of the ordinary directors receives £800 per annum.
(c) The amount of capital being made available by the Exchequer to Fóir Teoranta in 1982 is £6.5 million; this will be supplemented by funds of £1.5 million generated internally by Fóir Teoranta from repayments of existing loans.