Departmental Bodies

Dáil Éireann Debate, Thursday - 11 May 2023

Thursday, 11 May 2023

Ceisteanna (153)

Louise O'Reilly

Ceist:

153. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment if all moneys generated by Enterprise Ireland from investments is kept by EI to reinvest. [22196/23]

Freagraí scríofa

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

Monies generated by Enterprise Ireland from investments are classified as Own Resource Income (ORI).

The amount of ORI retained by Enterprise Ireland is subject to annual sanction by the Department of Public Expenditure, NDP Delivery and Reform and is used, in conjunction with Enterprise Ireland’s Exchequer allocation, to fund its activities.

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.