Seanad debates

Thursday, 27 November 2003

Adjournment Matters. - Rural Renewal Scheme.

 

The entire designated rural renewal scheme area also qualifies for rented residential or section 23 type relief, whereas only a limited number of areas or sites have been designated for this relief under both the urban and town renewal schemes. The size of qualifying residential properties under the scheme, in the case of both owner occupier and rented accommodation dwellings, is also greater than under most of the other tax incentive schemes. The Minister was careful to provide a full range of reliefs in order to promote a dynamic residential and commercial mix arising from the availability of the incentives under the scheme. It is not surprising, therefore, that the uptake of the rural renewal scheme has been strong to date, although development has been concentrated in some areas more than others. Overall, planning applications have increased considerably and the number of new homes being built in the rural renewal area has increased substantially compared to the situation prior to the introduction of the scheme.

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