Seán Sherlock (Cork East, Labour)

I understand the Minister, Deputy Bruton, has already given a commitment that there would be a review of the scheme after a year of operation. It would be right and proper that a review would take place. As a matter of course one would have to review the scheme and I believe the Minister's commitment is sufficient.

One could argue that there may not be sufficient data, patterns or trends emerging on the type of lending that arises from the scheme before a 12 month period has elapsed. That is the justification for the Government's decision in that respect. However, the commitment has been definitively given by the Minister, Deputy Bruton, in that respect. The review will be broad and comprehensive and will not be restrictive as per the amendment suggested. The policy commitment is to conduct a review and to lay it before both Houses. The matter is adequately dealt with in section 10.

Invoice financing will be eligible for the scheme. We will monitor closely the performance and we will consider if other types of credit should be included, as per Deputy O'Dea's point. We will make changes if we deem it necessary following the review. We are trying to ensure that we get the scheme off the ground, put a review mechanism in place after 12 months based on qualitative criteria and then if modifications or adjustments need to be made there is an open mind in government on the matter.

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