asked the Minister for Labour the total money paid by way of grant or other assistance under the youth employment scheme to a group (details supplied) in County Kilkenny; the amount which was paid towards the purchase of machinery; the present position with this machinery; the number who were employed in each year for which money was paid; the amount of money paid towards employment; the present position with the assets of that group; and if he will make a statement on the matter.
Written Answers. - Youth Employment Scheme.
221.
In February 1984 the board of the Youth Employment Agency approved £82,750 in the form of grants and loans to the group in question broken down as follows:
|
(i) Grants |
£ |
|
Management Grant |
10,000 |
|
Finance and Administration |
2,000 |
|
Marketing and Selling |
2,000 |
|
Wage subsidies |
18,750 |
|
——— |
|
|
Total |
32,750 |
The grants were paid during 1984-85 (final payment was made in January 1985) in respect of the employment of five young people and one manager. By the end of 1985 the employment level had fallen to two persons.
(ii) Loans
A loan of up to £50,000 was approved for the purposes of meeting the working capital requirements. The loan was drawn down during 1984 and went towards working capital. Fixed assets of £8,867 were purchased.
The current situation is that all assets of the company — machinery and stock — have been secured pending the calling of a creditor's meeting.