Following the announcement in this year's budget of the £100 million small business expansion loan fund, I agreed with my colleague, the Minister for Enterprise and Employment, an allocation of £25 million for tourism projects. Given the limited resources available and the expectation that demand would greatly exceed supply, it was necessary to focus the scheme on areas where it would be most beneficial in terms of tourism development and job protection and creation.
I fully recognise the importance of a vibrant restaurant sector to the overall Irish tourism product. However, while the sector clearly benefits from tourism growth, it is less dependent on tourism for its survival than many other sectors. Accordingly, I decided that restaurants would not be eligible for assistance under the scheme. The scheme has made a major contribution to tourism development, one from which the restaurant sector will benefit significantly. Furthermore, as the tourism element of the scheme has been fully subscribed the question of reviewing my decision does not arise.