Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

As there is no airport in the midlands, I am not too familiar with the details of this measure. Rather than criticise it, however, I will ask questions with the aim of putting more information on the record.

We are talking about a measure that deals with construction facilities, maintenance, repair and overhaul, where the investment of a company will be limited to €5 million and that of an individual to €1.25 million. The Taoiseach might explain whether the seven-year write-off is a straight write-off over the seven years, or whether a company can write off a large amount in the first year and then a little dribble in the remaining part of the seven years. These allowances can sometimes be front-loaded, which has a significant effect on cash flow.

Second, different dates are referred to in the documentation. We are dealing with an amendment to legislation but we have not had an opportunity to read the original section that is being amended, so it can be hard to follow the specifics. Can any of this be retrospective? I would be concerned if it was. I would hope it is only for new investment that takes place after the passing of the legislation. It would not be right or normal if somebody could get a tax relief on money that was invested last year or the previous year, so I would like this point clarified.

The Taoiseach said this will be finalised and made permanent in the Finance Bill. Will there be a requirement for statutory instruments to follow that legislation? Is this in any way connected to the aviation leasing industry, given the leasing industry is a very big industry in Ireland and the scale of its activities could at times nearly dwarf the national economy?

Is the measure strictly for regional and other airports? It is unusual to talk about a tax incentive for these particular areas? If it helps regional development, that is good. Ultimately, the cost of what has been mentioned is only €0.3 million in a year. If that is all it is, it is not a big hill of beans. In that context, if it helps get something off the ground, I would welcome it. I would appreciate clarification on these questions.

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