Review of State aid to industry suggested

 

IRISH industrial policy needs to be re examined as a matter of urgency and the agencies responsible for development of indigenous industry should be consolidated, according to the Irish Business and Employers Confederation.

In a submission to the Department of Enterprise and Employment, IBEC has called for an examination of the structure and delivery of State supports to industry and a review of the aid packages offered by IDA Ireland.

It wants a clear statement of Government policy on funding indigenous industry and an appeals process for any company whose application for funding is rejected. IBEC wants funding conditions for indigenous companies to be competitive with those on offer to overseas companies setting up in Ireland.

IBEC wants participation in the stock market to be made more attractive for private investors and has called for the Developing Companies Market to be established as soon as possible.