Brian Cowen (Laois-Offaly, Fianna Fail)

Any Minister of Finance would review the schemes, the way in which they interact with the economic and social priorities of the day and whether he or she wishes to continue with them or change, add to or detract from them. In this case, having taken up office shortly before my budget, I put in place a more structured review system and obtained consultancy help in looking at the schemes which I have outlined. Other schemes are continually under review by the Department and Revenue Commissioners which would be the case going into a budgetary process.

The BES and film relief schemes have been reviewed within the past 18 months and are already subject to caps and limitations. These, together with the seed capital scheme, will be examined during the review in terms of whether potential horizontal measures to limit the ability of high earners to substantially reduce their tax contribution should include these schemes.

With regard to share options, the schemes are considered very important in terms of social partnership and by business in general and are subject to conditions in order to qualify. We have no evidence from data and reports that share options are used by high earners to reduce their income tax liability and therefore it is not considered that they need to be examined in the context of the review. That is the situation with regard to what is being looked at and the reasons for it.

The Tánaiste indicated her interest in the prospect of certain private investment in the provision of health facilities. She was generally well-disposed to the idea and stated that it was ultimately a matter for the Department of Finance and Government in a budgetary context beyond this review to see what, if any, other areas will be considered. I am not restricting tax reliefs. Rather I am reviewing them and not prejudging the outcome of the review. I am waiting to see what comes forward on the evidence available. It is a matter for Government at any time, in preparation of budgets and in pursuance of economic and social policy, to ascertain the priorities it wishes to consider where private capital could play a role in addition to Exchequer commitments. I do not see any discrepancy in that regard. We are awaiting the outcome of the review.

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