Mr. Declan Hughes:

I thank the Deputy for his comments. To be very clear, the allocation for trading online vouchers this year was initially €2.3 million. This allocation has been exhausted and then increased on two or three occasions already this year and is now more than €20 million. It has been stepped up quite significantly. In fairness to the local enterprise offices, 9,396 applications have now been approved and paid out. This is five years' worth of applications in the space of five months. Together with the Department of Environment, Climate and Communications, we have provided significant additional funding for that scheme throughout the year. The Deputy's point on engagement was absolutely correct. With regard to business continuity vouchers, some 12,000 have been allocated in the space of five months. In fairness, there has been very significant stretch work by everybody involved.

With regard to the restart grant, 100,000 applications have been received and more than €450 million has been paid out, including €40 million in the last week. These applications are being dealt with very quickly. The first restart grant was, as the Deputy may recall, very limited. There was a minimum payment of €2,000 and it only applied to companies with up to 50 employees. We then significantly reformed the grant and the Tánaiste launched the significantly improved scheme which was open to businesses of up to 250 employees with a minimum payment of €4,000. There has been a number of sequential increases or top-ups over recent months as other parts of the country have closed down. The local authorities have kept the first restart grant scheme open for any business that did not apply in time. Such businesses can go to the local authority, which is dealing with those grants. There is a system and process in place for dealing with such companies. The funding is there for them.

With regard to Microfinance Ireland, MFI, under the original legislation it could lend €35 million. It worked incredibly hard to get €20 million in additional lending out and exhausted that ceiling. We then put in place additional legislation to increase its lending ceiling to €105 million.

Additional funding was provided as part of the Revised Estimates earlier this year in order that it could meet that lending. Government money will go in as equity for the future and then MFI will be able to borrow on the market. Its parent previously was the Social Finance Foundation and it had exhausted what it could support. The SBCI will be borrowing on market for MFI at low or near to zero interest rates and the Exchequer funding goes in as equity for that. We have no capacity constraint on the funding that is available for MFI. There is up to €100 million available. It is considering new products and we will shortly be bringing out additional products. It has a very quick turnaround as well. It has also had to deal with significant additional demand. Its run rate was €4 million to €5 million a year. It did €20 million in five months and it stands ready to meet anticipated additional demand in the coming months. I am happy to engage further with the Deputy.