Tuesday, 4 February 2014

Questions (272)

Dara Calleary

Question:

272. Deputy Dara Calleary asked the Minister for Jobs, Enterprise and Innovation if he will provide in tabular form the consultancy fees spent on the credit guarantee scheme, showing a breakdown of the expenditure; and if he will make a statement on the matter. [4867/14]

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Written answers (Question to Jobs)

The Credit Guarantee Scheme (CGS) was established under the Credit Guarantee Act 2012. The Scheme launched in October 2012, in response to numerous calls from business interests. It is a novel Scheme in an Irish context which is currently developing a position in the Irish financial arena.

Consultancy fees have been spent on the development and design, and the establishment and ongoing management and operation of the Scheme. In addition the Scheme was externally reviewed in 2013.

As requested I have provided a breakdown of the expenditure on the CGS;

Organisation

Purpose

Cost

(Including VAT)

Capital for Enterprise Ltd.

Design of Credit Guarantee Scheme

€66,650

Capita Asset Services Ireland

Operation of the Credit Guarantee Scheme

€483,559

First Choice Financial Services Ltd and AJS Financial Advice Ltd

Review of the Credit Guarantee Scheme

€24,600