Michael Creed (Cork North West, Fine Gael) | Oireachtas source

Deputy O'Keeffe raised the issue of flexibility in the context of TAMS. He is looking for a great deal of flexibility in terms of TAMS, nitrates and loans via the co-operatives.

I am straying a bit out of my comfort zone. First, there has not been an issue. I have a lot of engagement with all the co-ops. This is the first time it has been raised with me as an option that the product could be delivered via the co-ops. They would have to be approved as financial intermediaries. I am not sure it is a runner. I dealt with the issue of access to loans in some detail earlier.

I would like to deal with TAMS. I was at a meeting last night. Some members of the joint committee were at a similar meeting. I was on a beef farm in County Laois and I had a meeting subsequently in Portlaoise last night. The issues being raised in questions here are similar to those exercising the minds of the farming community generally. TAMS approvals initially lasted for three years. It proved difficult to manage the Department's liability - to make provision against it - without knowing when the farmer would draw down or activate his application or approval. For that reason, we have restricted it to 12 months for buildings and six months for plants. This gives us a better chance and that is evidenced in our outturns for this year. The first set of three-year approvals is starting to expire now. The people in question can reapply. Tranches are open and being approved all the time. We are issuing approval letters now for the most recent tranche, which closed on 8 or 10 September. Approvals in respect of those applications are issuing now. There is a rolling tranche of TAMS applications. We have restricted it to 12 months to try to get a better handle on the Department's contingent liabilities. There is a bit of sense in that.