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02/07/2002
Audit Office criticise order of old business agency
The Northern Ireland Audit Office (NIAO) has published a report which criticises the allocation of public funds by now-defunct small business agency Ledu.
The investigation into Ledu’s Export Start scheme revealed that grants were given to small companies without thorough investigation and that this in turn, may have cost jobs elsewhere throughout Northern Ireland.
In the lengthy report, the NIAO said that while the average grant offered to businesses was not major, the total assistance awarded under the scheme was significant.
Over a nine-year period, 1992-2001, Export Start provided offers of assistance totalling more than £20.6 million to 613 companies.
It also found that around £2 million was paid to companies who said they could have proceeded with their plans without Ledu assistance.
While the NIAO report made numerous recommendations which it believes will improve the efficiency of the scheme, Invest Northern Ireland which has taken over the renamed Growth Start scheme, said it was not permitted to comment on the report’s findings.
A response from the Northern Ireland Public Accounts Committee (PAC) is expected over the next couple of days in which serious questions are likely to be asked in relation to Ledu activities and those involved in the fraud.
(MB)
The investigation into Ledu’s Export Start scheme revealed that grants were given to small companies without thorough investigation and that this in turn, may have cost jobs elsewhere throughout Northern Ireland.
In the lengthy report, the NIAO said that while the average grant offered to businesses was not major, the total assistance awarded under the scheme was significant.
Over a nine-year period, 1992-2001, Export Start provided offers of assistance totalling more than £20.6 million to 613 companies.
It also found that around £2 million was paid to companies who said they could have proceeded with their plans without Ledu assistance.
While the NIAO report made numerous recommendations which it believes will improve the efficiency of the scheme, Invest Northern Ireland which has taken over the renamed Growth Start scheme, said it was not permitted to comment on the report’s findings.
A response from the Northern Ireland Public Accounts Committee (PAC) is expected over the next couple of days in which serious questions are likely to be asked in relation to Ledu activities and those involved in the fraud.
(MB)
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