Terry Leyden (Fianna Fail)

I compliment the Minister on this initiative and would like him to outline whether legislation or regulation is required for it. It is an excellent initiative and an interesting programme. Members may be aware that in the past we had a "passports for sale" initiative and while that was a much maligned scheme, it created a significant number of jobs for this country. One need only look at Kerry Airport, Millstreet and the significant afforestation projects to see some of the benefits from that scheme. The scheme was much maligned by people who were in good jobs who did not have to worry about getting employment. However, based on my knowledge of the scheme, I could supply a list of companies here that would not be operating now and providing employment but for it.

This scheme as envisaged is in a sense a further innovation of that one and will, probably, be easier to sell. I see it as a move in the right direction. Some countries have a scheme whereby if a person buys a property or one of the surplus houses available and thereby takes a stake in the community and if the person has adequate means, this will qualify the person for naturalisation. This would be an attraction for some people and perhaps some of the houses on housing estates around the country that have not been sold could be a possible investment and the first step for people who have not got naturalisation. Investment in Government bonds or in the national reconstruction bond scheme would also be an excellent idea. All in all, this is the type of initiative that must be taken in times of difficulty in order to create jobs.

Canada has a scheme which is even more blunt than that proposed by the Minister. Its passport scheme allows that where a person can make the necessary investment in the country, he or she will be given the option to apply for a passport on the basis that the person is creating jobs and making a long-term investment and intends to reside in the country. The Minister is aware from his Department's files of the interesting schemes and applications that have come to his Department prior to his becoming Minister, going back to the time of Máire Geoghegan-Quinn and others. The file on those applications is fascinating and when the Minister has time, he should read it. It should be very illuminating to discover the number of projects that have been funded in this regard. The "passport for sale" scheme got great support and there are thousands of acres of afforestation owned under the scheme.

I hope the Minister moves on this initiative as quickly as possible. The start-up entrepreneur programme is imaginative and progressive and it is interesting that it is being promoted by this Minister's Department. It is important that every Department looks at how it can help to create jobs. This Minister is not the Minister for Enterprise, Jobs and Innovation, but he is using his Department to open up a way to create jobs. Well done, I wish the initiative well.