Gerald Nash (Louth, Labour)
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The 2% premium is the case for now and that is understood, but it is not expressly specified in he Bill as flexibility is required to be able to respond where needed. For example, if a particular scheme is targeted at a specific sector experiencing difficulties with structural problems, flexibility would be needed to reduce the cost of the premium, if a case could be made. Flexibility is enshrined in the Bill to allow a response to those situations. I hope colleagues can support this. The figure of 2% is the understood rate at the moment and there is a cost involved in operating a scheme like this. These are resources that would be flown to SMEs that would not otherwise find their way to SMEs, in the absence of a scheme like this. While there is a cost involved, the premium can only be used to defray the costs of the scheme's operation.