Brian Cowen (Laois-Offaly, Fianna Fail)

The Deputy makes a presumption he is not entitled to make. There is no basis for such a presumption. He is entitled to the view that there should be no tax relief schemes in the country, if that is his view. As any Minister for Finance would, I review on an ongoing basis the opportunities that exist to raise revenue or economic activity or to create incentives for certain activities. These are judgments that must be made depending on economic and social circumstances.

I have outlined the first comprehensive structured review of the schemes outlined. I am examining those in the context of the consultations that have taken place. As one prepares the budget one can examine any number of tax relief schemes. I am explaining what I am doing. If, as his question suggests, the Deputy does not concede that any benefit has derived from these schemes, then the evidence is against him. I am prepared to await the outcome of the ongoing review. Our own eyes confirm, however, that significant benefits have been derived from these schemes. The issue to which I adverted in my budget speech was that I felt it was appropriate to see in what way we should strike into the balance potential benefits to investors through schemes which bring a wider community benefit, as well as a personal benefit in terms of investment in such schemes. The wider community derives a benefit from them. If the Deputy's ideological position is that he does not believe in them at all, then fine — we will agree to disagree.

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