Peter Burke (Longford-Westmeath, Fine Gael) | Oireachtas source

I welcome the response from the Minister and the updating of the new format. It is important that it is simple to apply for it. Obviously rules must be strict in terms of the qualifying criteria but when a firm can avail of this relief and when a taxpayer can put money in and avail of the scheme, it is a vital tool for business because the taxpayer gets relief and there is a chance to grow jobs, growth and investment in a local area. I have seen this being used to brilliant effect working as a tax practitioner for over a decade. I have seen how advantageous it has been for people to invest in the old business expansion scheme, BES. There is risk in all of these things but it is important that when there is a chance to grow the economy in ways that are cost effective for the taxpayer, that those opportunities are grasped.

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