Michael Creed (Cork North West, Fine Gael) | Oireachtas source

I do not think so. The three schemes are all somewhat different. The first €150 million was a working capital scheme. It has stimulated competition in the marketplace to such an extent that the product that we introduced at 2.95% is close to what is currently available in the marketplace. That initiative has triggered greater competition for working capital. Details will be announced later for capital investments for longer than seven years, primarily in the area of agricultural investment or the fishing industry, which I would be concerned with. Most of the money available from financial institutions for capital investment is secured land and it is up to seven years, whereas the gap in the market is for unsecured money over seven years at very competitive prices. The third product we are bringing in is to drive capital investment. The one which we are talking about in this question is not targeted at primary producers but at the business community and has complemented the one which will shortly be added and the one which was done previously.

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