Seán Haughey (Dublin North Central, Fianna Fail)
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Question 191: To ask the Minister for Finance if he will introduce financial incentives to encourage the construction of private housing schemes exclusively for the elderly; and if he will make a statement on the matter. [6621/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I take it the Deputy is referring to the introduction of specific tax incentives for the construction of private housing schemes for the elderly. Capital allowances are available for expenditure incurred on the construction or refurbishment of housing units associated with a registered nursing home. These capital allowances are granted at a rate of 15% per annum for six years, and 10% in year seven in respect of the qualifying expenditure incurred on these housing units.

Qualifying residential units under this scheme are intended for older people who wish to maintain their independent living status within a sheltered caring environment. The residential units have to be operated or managed by a registered nursing home and the nursing home will provide back-up medical facilities, including nursing, to the occupants of the units when required, and an on site caretaker must also be available. There must be a minimum of ten housing units within the site of the nursing home. The units and any building in which they are comprised must be designed and constructed to meet the needs of persons with disabilities, including in particular the needs of persons confined to wheelchairs.