IDA Claws Back Almost €55 Million in Grants from Companies over 10 Years

IDA Ireland has clawed back almost € 55 million in grants from multinational companies over a 10 year period,figures provided by Tánaiste and Minister for Enterprise Leo Varadkar show, the Irish Times reported. In a written Dáil reply to co-leader of the Social Democrats Catherine Murphy, Mr. Varadkar confirmed that the largest annual clawback of the grants took place in 2011 when the IDA clawed back €18.7million from 11 companies. This followed the IDA revoking €12.88 million in grants in 2010 from 16 companies as unemployment rates soared. However, the second lowest annual total occurred in 2019 when just €1.68 million was clawed back from five companies as the economy continued to strengthen. This followed the IDA seeking a revoking of grants totalling €5.7million in 2018 and €5million in 2017. The IDA clawed back a total of €54.8 million over the 10 years. Read more.