Paying the paymasters

Paying the paymasters

The IDA is proud of its central role in winning foreign direct investment - but it has now been revealed that many millions of taxpayer’s money has also been given in grant aid to companies who patently do not need the help. Ian Guider reports

At the beginning of every January, the IDA hosts a press conference to reveal its job-creation successes from the previous year. It has become the norm for the agency; it beats its targets year after year without failure. A five-year plan set in motion in 2015 has already been exceeded. By the end of last year, more than 210,000 people were working in multinational companies lured to Ireland by the state agency. As a percentage of the workforce, more than one in ten people are now directly working for foreign firms and many more are reliant on the activities they bring.

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