As a result of this review, the relief was curtailed in the budget for 2006 to exclude relief on interest for loans to acquire shares in certain companies. Despite this change, there has been a lack of evidence which demonstrates a return from this relief in terms of employment and growth. Given the cost of the relief, which was estimated at €48.5 million in 2008, and the need for the income tax base to be widened by the elimination of inefficient reliefs and incentives it has been decided that interest payable on such loans taken out after 7 December 2010 will not qualify for relief.

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