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

I acknowledge that he purpose of the changes being introduced in the Bill are to make the KEEP scheme more attractive. It provides significant potential to help smaller businesses to attract and retain key staff. That is a difficulty for them, particularly in a strong labour market where they are competing with large companies which perhaps can offer greater remuneration packages.

On the point the Minister made about the consultation day, my understanding is that the discussion centred around the issue of the number of subsidiaries and not on the question of whether the holding company could trade. If I take what he said in good faith, namely, that this will be kept under review, it is important that this will be done because the KEEP scheme, in its current form, has not worked. When we have fewer than 90 employees benefiting from a national scheme, clearly, it has not delivered on the promise we all accept it has. I will not press the amendment. However, I will hold the Minister to his commitment to keep this under review and that if a further change to the definition, in a technical way, is required, a vehicle will be found to deliver on that.

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