Michael Creed (Cork North West, Fine Gael)
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Yes. I have said before that it is a long running story, certainly longer than we anticipated, and it required primary legislation because of the involvement of the European Investment Bank. It was much more complicated than our previous foray in this area with the working capital scheme or the other €300 million working programme for small business. The fund is there now and it is welcome because it plugs a gap in the market that was not previously serviced with regard to the unsecured borrowing of money over seven years. It is very important that it is there.

The Deputy's other question was on TAMS. The allocation for TAMS this year is €70 million. We are drawing down in the region of €2 million a week now. To date some €20 million has already been paid out this year. We will need to keep this area under constant review.

In terms of applications, there is growing demand in this area. According to the most recent figures, we received more than 19,000 applications under TAMS. It has the exact same profile as any of the previous schemes in terms of being slow to start and then peaking. We are moving into that space now. The allocation for TAMS for 2019 is €70 million. It will require vigilance to ensure we process all applications and keep them moving along as quickly as we possibly can with farmers being paid.