Terry Leyden (Fianna Fail)

I welcome the Minister of State, Deputy Sargent, to the House and thank him for responding to this matter.

The Minister for Finance, Deputy Cowen, introduced the mid-Shannon corridor tourism infrastructure investment scheme under section 29 of the Finance Act 2007. This is a tax incentive scheme which will provide tax relief aimed at promoting the tourism facilities of the area. The relief will apply to investment in registered holiday camps and tourism infrastructure facilities. Briefly, the tax relief will apply to the cost of construction or refurbishment of buildings with the exception of licensed premises or buildings for gambling. In addition, the relief available to property developers as opposed to tourism professionals will be limited. Eligible projects would include, for example, marinas, water sports infrastructure, equestrian facilities and interpretative centres as well as standard tourism accommodation.

The area covered by the scheme is quite expansive, including parts of counties Clare, Tipperary, Galway, Offaly, Roscommon and Westmeath. According to Fáilte Ireland, tourism is the largest indigenous economic industry and has the potential to substantially expand its market share, particularly in the mid-Shannon region. Guidelines are being drawn up between the Departments of Finance and Arts, Sport and Tourism. The scheme must be signed off by both Ministers and then obtain EU approval before it is enacted by ministerial order. This scheme could be of immense benefit to tourism in the area and I stress the importance of announcing the expected implementation date as soon as possible.

I received several representations from tourism operators in qualifying areas such as Athlone, Roscommon town, Dysart and Lecarrow keen to know when the scheme will be implemented. Being aware of when they can expect the relief to become available will allow all parties involved in tourism in the area to plan development for the coming years, particularly considering the concerns over the possible abstraction of water from Lough Ree. I am confident the Minister of State at the Department of Agriculture, Fisheries and Food, Deputy Trevor Sargent, as a Green Party Member is aware of this.