Exchequer may get €24m from firm closures

THE closure of high-profile IDA -backed firms like Gateway with the loss of 900 jobs could result in a €24 million exchequer windfall.

The Exchequer Returns published this week shows receipts of €12 million from IDA refunded grants up to September which is the amount budgeted for the entire year.

However, internal IDA figures show that €36 million has been paid back to the State jobs creation agency this year by IDA-supported companies who closed or failed to meet job targets.