Seanad debates

Tuesday, 10 December 2002

Photo of Joe McHughJoe McHugh (Fine Gael)

Last week in the budget a cutback of 15% in the capital allowance scheme for hotels over seven years was announced. This will prevent investment in hotels. I refer to the BMW region where tourism infrastructure is at an embryonic stage and the tourism industry is not as well established as it is elsewhere. I ask the Leader to contact the Minister for Arts, Sport and Tourism to establish whether it would be possible to introduce a period of grace of between three and six months prior to the termination of the scheme. Certain individuals have invested upwards of €100,000 in the scheme but banks are not willing to give them a commitment on funding and they have been left high and dry.

I will raise this matter later in the week when the Minister for Arts, Sport and Tourism comes to the House, but I would appreciate it if the Leader mentioned it to him this afternoon. The BMW region only exists on paper. It must be taken seriously. The country must be dealt with on a regional basis because every decision made centrally affects those who live in peripheral areas.

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