Jim Daly (Cork South West, Fine Gael)
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To ask the Minister for Finance the progress that has been made between his Department and the Department of the Environment, Community and Local Government in relation to the establishment of a compensation scheme for uninsured businesses affected by recent flooding; and if he will make a statement on the matter. [43161/12]

Michael Noonan (Limerick City, Fine Gael)
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An interdepartmental working group has been established in relation to the matter of compensation for businesses affected by the recent flooding in Cork. This working group, which has representation from the Department of Finance, the Department of the Environment, Community and Local Government and the Department of Public Expenditure and Reform, is exploring the practicalities surrounding the establishment of a contingency fund for the payment of compensation to businesses in respect of flooding or other such events.