Scheme safeguards and funding
Brennan urges the Minister to avoid excessive red tape in the export scheme. Bruton says applicants will need a development plan and gives 1985 funding of £615,000, with ten firms expected to participate.
May I avail of this opportunity to put a request to the Minister, that is that while many of us would wholeheartedly welcome this scheme, in drawing it up we should not be over hidebound by stipulations, regulations and so on. I might suggest to the Minister that if he takes that approach he will prevent happening to this scheme what happened the venture capital scheme introduced by the Minister for Finance under the 1984 Finance Act which in effect has come to a halt. I think the Minister himself will admit that that happened because of a whole rigmarole of clearances, certificates and regulations. This scheme is urgently needed, I welcome it and I would ask the Minister to bring it in crisply and cleanly rather than allowing it become tied up with red tape.
Comment on this
There will not be red tape of the kind the Deputy is afraid of in respect of this scheme. However, companies will have to have a development plan which will show that they will make good use of the aid.
I omitted to give Deputy Taylor some information that is available in regard to an earlier question, that is to the effect that there is provision for £615,000 to be spent on that scheme in 1985. Hopefully at least ten firms will participate this year, rising to 40 in the following year.
