Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I move amendment No. 14:

In page 80, after line 35, to insert the following:“Report on operation of Employment Incentive and Investment Scheme

25.The Minister shall, within three months of the passing of this Act, prepare and lay before the Oireachtas a report on the operation of the Employment Incentive and Investment Scheme.”.

This amendment relates to the employment incentive and investment, EII, scheme, on which we had some discussion on Committee Stage. The purpose of the amendment is not to get a report but to have an opportunity to discuss this scheme on the floor of the Dáil. As a result of the amendments brought forward on Committee Stage, which were about updating and consolidating the text around the EII scheme, it was incredibly difficult to work our way through it and assess the changes that were being made and whether the issues affecting those applying for the scheme were being addressed or not.

I want to put on record the significant operational issues that arise with the EII scheme. It is an issue I am contacted about quite often in respect of individual claims where there seems to be a significant backlog in the approval process. I hope this is something the Minister can address. As a result of the budgetary announcement and the changes to the Finance Bill, there is a movement to a largely self-certification model, as is the norm for such schemes, and it is hoped that will go a long way towards addressing the issues that arise in the operation of the scheme.

I do not need to tell the Minister the importance of this scheme and the vital funding it provides for early stage business. It is crucial and we need to protect it. We need to make sure it is working and achieving the purpose for which it was established. I know there are issues around the rules, eligibility and so on. What I want the Minister to address, first and foremost, are the operational challenges that certainly arise. We hope this change which is being brought about will address that, but it is an issue that needs to be dealt with. It is consistently raised by representative bodies of businesses and directly with me by investors and companies benefiting from the scheme. There are legitimate issues that need to be addressed.

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