THE Irish Small and Medium Enterprises Association (ISME) has accused the Government of giving too much grant aid to multi national companies at the expense of indigenous firms.

ISME national director, Mr Frank Mulcahy said yesterday he questioned the rationale of affording grant aid of £40,000 per job to multi national companies "when more sophisticated and better paid jobs in indigenous industry might, if lucky get grant aid of £12,000".

Speaking in Cork yesterday he said the average level of support for job creation in Irish owned businesses was just £3,000, "less than it would cost the Exchequer to maintain an individual on the dole". Mr Mulcahy asked why Ireland should provide large grants to foreign owned industry "if, as they state, the reason for establishing in Ireland is the pool of highly educated young workforce available and the low low corporation tax regime".