Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I thank the Deputy. I understand that this is an important source of investment and credit for SMEs and I think it is likely to grow in the near future. In my budget day speech I said that I am willing to look at how we can tax this sector and how this could be done in a way that is effective and deals with issues that Michael Deputy McGrath and representatives of the sector have raised. I want to do this in parallel with the regulation of crowdfunding within Ireland, in particular peer-to-peer lending. As we stand, peer-to-peer lending is unregulated in Ireland. I will look at this in a phased way. I will look at how we can regulate the sector and consider any changes that need to be made.

As we look at how the sector can be regulated as opposed to being better regulated, I am open to looking at whether an appropriate tax policy needs to be put in place.