Charlie McConalogue (Donegal, Fianna Fail) | Oireachtas source

I shall make a couple of follow-up points in terms of my previous questions. I ask the Minister to clarify whether there will be an underspend in his Department's projections come 31 December in terms of budget 2016. We have debated the rural development programme a number of times, particularly the overall envelope for the seven year cap for GLAS.

I wish to specifically refer to the Department's 2016 budget. The Minister has stated that the current underspend will be reallocated into the Supplementary Estimate. Aside from that. Does he expect all funds to be spent by the end of 2016? Do the Department's figures show an underspend at this point?

In respect of the Strategic Banking Corporation of Ireland, SBCI, funding and the €24 million that Europe and this Supplementary Estimate is putting towards the €150 million loan fund, the Minister has indicated that the €24 million of EU and domestic funding will go towards two aspects. First, interest rate amelioration or funding part of the reduced interest rate that farmers can avail of and, second, the funding will ensure against first loss. I ask the Minister to flesh out how these initiatives will work. What proportion of the €24 million has been dedicated towards reducing the interest rate? Will the banks receive payment from the €24 million to provide a lower interest rate? I ask the Minister to explain the matter and the insurance part.

I have another question on the €24 million. Once the loan fund is finished and runs its course - and if there are no significant losses to be borne by the State or banks do not have to be recompensed due to no guarantee being required from individual lenders to the banks, if there are not sufficient losses to be covered - will a good proportion of the €24 million be returned to the State for further use? If so, will it fund further financial instruments afterwards?

I support the point made by Deputy Cahill about the de minimisrule. The Minister has given the impression that tillage farmers and farming organisations did not ask for credit or a crisis fund. He took the main theme to be that they wanted loans. I got a different reaction from the farming organisations. I remember that they asked for a crisis fund when the crisis took hold. The farming organisations quite clearly called for a crisis fund. I ask the Minister to clarify the matter.

As much as €20 million of the Supplementary Estimate will go towards the UN World Food Programme that is not due until next year. Does that mean that the €20 million the Minister planned to spend on WFP next year will be available in the 2017 budget for other purposes? Is the money in addition to what will be spent next year?