asked the Minister for Industry and Commerce the number of new jobs he expects the IDA to create in 1987; and if he will make a statement on the matter.

The target for new jobs created in 1987 with IDA assistance is 11,400. This figure represents a small increase over last year's outturn when approximately 11,000 new jobs were created.

I thank the Minister for his reply. With regard to the second part of his answer and the 11,000 odd jobs created, are they job approvals or jobs created with workers now paying PRSI and PAYE?

They are actual jobs created on the ground according to the information I have.

Is the Minister aware that due to the recent sharp slump in the value of the dollar a number of potential US companies and one large producer——

The Deputy seems to be embarking on another question altogether. This one has to do with the number of jobs expected by the IDA.

The point I am trying to get at is that the expectation is wrong and is over-optimistic. Would the Minister agree that the likely outcome for 1987 is irreconciliable with The Programme for National Recovery prior to the election?

This is not my expectation. It is the expectation of the IDA who are charged with the responsibility of meeting their job targets. I have no doubt that they are well aware of the devaluation of the dollar in relation to Ireland but any projects approved in the second half of last year would not be included in that type of projection because those projects would not be up and running and have jobs installed by the end of 1987. There is a time lag between the approval of a project and when it is on stream and the jobs are in place.