In my preface to the Review of Industrial Performance, 1990, I drew attention to the large number of promotional measures which are undertaken by different State agencies in the form of direct financial support of companies and in the provision of advice and information. In that context, I was conscious that the increasing use of equity by IDA in assisting companies meant that there are certain overlaps between IDA's role and that of the National Development Corporation. Indeed, in the context of the review I also indicated a decision to move within the next three years to a situation where up to 50 per cent of financial supports to medium-large indigenous industry would be in the form of equity or other remunerating forms of aid. Such a development could, of course, tend to increase the degree of any existing overlap.
For this reason, I indicated that, in order to provide a more cohesive and integrated approach to State equity investment in enterprise, the activities of NADCORP and the IDA would be more closely integrated. The manner of integration is currently being examined by my Department, I intend to have this examination completed in the near future and I will then make an announcement on the matter.
The statutory independence of NADCORP, to which the Deputy refers, can, of course, only be changed by legislation.