Brian Cowen (Laois-Offaly, Fianna Fail)

In the budget I announced a review of the existing incentive reliefs and exemptions and this matter is being pursued as quickly as possible. Advertisements as required under EU rules have been placed in the EU Journal and we have indicated we wish to hear from the public and other interested parties. The review will be conducted by the Revenue Commissioners and the Department of Finance, which is the correct approach. Upon conclusion of those deliberations it will be a matter for this House to debate and discuss. We should not pre-empt that process. Various mechanisms in this House are available to the Deputy to inquire into the progress being made in the course of the year.

The dormant financial assets Bill is to extend the dormant accounts treatment of assets other than life assurance and bank accounts. The provisions envisaged for the Bill will be incorporated in the financial services (consolidation) Bill.

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