Mr. John Keane:

From our CAP strategic plan we are too late. The option we do have there is through the Strategic Banking Corporation of Ireland, SBCI. We understand a new fund is to be announced at the end of the second quarter of 2023. What could be made available there is a ring-fenced fund for business owners under a certain age and for young farmers, that is, for those under the age of 35. Currently, the SBCI is an open competition, and that is obviously understandable. If you put yourself in the position of a bank, given the choice between somebody who is 25 years of age with a limited track record and somebody who is 50 years of age with a great track record, I know who I am going to give the money to.

That is why a specific, ring-fenced 25% is needed. That allocation of funds that comes from SBCI is unsecured. It is at a low cost of interest for young farmers and it is specific to them.