The abolition of the "passports for sale" scheme would not have been necessary had it been operated in a transparent way, according to the Irish Small and Medium Enterprises association.
Expressing regret that political publicity had led to it being scrapped, an ISME spokesman, Mr Tom O'Neill, said it was especially disappointing when similar schemes operated in most other European countries, usually with less stringent conditions.
Bad publicity meant the Government had not faced up to the scheme's benefits in terms of job creation and preservation. In his estimation more than 4,000 jobs had been "saved, helped or created", often involving large companies.
Investment through the scheme had enabled his company, Lissadell Towels, in Co Monaghan, to come out of examinership and saved about 150 jobs. The transaction had been open, and such transparency in all cases "would have made all the difference".
But Senator Feargal Quinn (Ind) said "the only place for the scheme is the rubbish bin". While it was certainly well meant at the outset, it was in danger of doing immense harm to Ireland's credibility, he said. Whatever about recognition of commitment to the State, it was wrong to advertise that "in return for money we will give you a passport".
He welcomed the decision as he had warned the Minister for Justice, Mr O'Donoghue, he intended putting forward a private member's Bill seeking its abolition if he did not get rid of it. But he was concerned that Mr O'Donoghue had indicated that he was, nonetheless, going to consider about 50 applications on file.
While he was opposed to a passports-for-sale scheme, he was not opposed to granting citizenship to those who came to settle in Ireland and made a contribution aside from the issue of having money or not.
