Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

It is broken in two because that was the drafting advice we got. There is no intention to commence them at different times; my intention is to commence them at the same time. The issue of the commencement order is to allow both of them to get through state aid provisions in Europe before they are commenced. I could try to commence them now but they do not have state aid permission and such a move would be quasi-legal if not downright illegal. I have to get them across the line in Europe before they become operational. I assure Deputy Naughten that any commencement order or orders will be numbered (I) and (II) and whether I need one or two it will be done on the same day. There is no issue with this.

There is absolutely no discrimination. I wish Knock airport every success and I hope it is successful in attracting industry. The only advantage for those in Shannon is that they have an industry up-and-running in a small way and they are keen to build it up further. They believe they may have the potential to do so.

The relief would involve consortia of investors. The high earners restriction will apply, the limit on sideways setting of capital allowances will apply and the termination of unused capital allowances will apply. Deputy Mulherin asked why I was putting in these restrictions. The reason is that I do not want tax reliefs abused in the way they were abused in the past. I do not want tax reliefs applied to an airport but used for buildings somewhere else in the country by means of a transfer of rental income for tax relief accrued at the airport building. I want it absolutely focused in order that the tax relief delivers on the purpose for putting it in our tax law in the first place. That is why these restrictions are in place. I am not going to introduce any section 23 incentives which would give rise to something west of Ireland Deputies should be familiar with, that is to say, all those buildings on the upper Shannon unused and empty. They were driven by tax breaks that were badly focused and I am not going down that road. I will help Shannon in any way I can-----

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