Seanad debates

Wednesday, 26 March 2003

Finance Bill 2003 [ Certified Money Bill ] : Committee and Remaining Stages.

 

As far as I know, the scheme in County Leitrim and the Shannon Basin is doing reasonably well, although there are some developments one would prefer not to see, as with the holiday schemes. The take-up has not been too bad. I am more familiar with some tax-led developments in the city and they have generally been good. I acknowledge that the £25,000 cap the Minister introduced some years ago was a very effective anti-abuse measure, rather than an anti-avoidance measure. Provided there is a particular developmental aim in mind and we look at the dead-weight effect, we should not abandon certain reliefs and say they are bad. However, we need to understand exactly what we are doing.

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