Oireachtas Joint and Select Committees

Thursday, 23 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Michael D'ArcyMichael D'Arcy (Fine Gael) | Oireachtas source

In a question to Minister Brian Lenihan dated 11 November 2008, the Minister says:

At the time of publication the estimated output of self catering resorts was between 5000 and 6000 units. However, the report also stated ... the scheme did not contribute, in any significant way to the achievement of a key tourism objective [for] “the attraction of overseas tourists” but probably assisted in the achievement of regional spread in domestic tourism terms.

Mr. Kenny, the figures that the Minister for Finance, at that stage, gave was a tax foregone, a tax break of €319 million and if you read that ... the analysis of that response is quite clear, that there wasn't an assessment subsequent to the scheme. The scheme didn't contribute towards the expectation of improving tourist facilities, giving the people the reason to go beyond an extension of 5,000 to 6,000 units. And I suppose, what I'm trying to come at, Mr... Taoiseach, is how we got to a stage where pilot scheme moves-----

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