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Enterprise Ireland hands back €12 million while local businesses continue to struggle – Tóibín

29 November, 2011

Today the government refused a Sinn Féin request to discuss how €12 million that should have been directed to support indigenous industries has gone unspent and instead transferred across to support Foreign Direct Investment by the IDA.

The Sinn Féin spokesperson on jobs, enterprise and innovation Peadar Tóibín said:

“The government today moved supplementary estimates for the Department of Jobs, Enterprise and Innovation. These came about because of an under spend of €12 million by Enterprise Ireland.

“At this time of crisis in our economy it is beyond belief that the agency responsible for supporting local industry is handing money back.

“Local businesses are experiencing severe problems in accessing credit, entering export markets and enhancing competitiveness. They are crying out for support and access to resources and yet we find that Enterprise Ireland can’t spend the money they have.

“It is clear that the foundation block for sustainable economic recovery is local indigenous industries.

“The government needs to explain why funds are failing to reach our local industries and are instead being channelled to support large multinationals.

“Consideration should also have been given to channelling resources into Udarás na Gaeltachta or county enterprise boards to ensure support is given to local industries.”

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