Tommy Broughan (Dublin North East, Labour)
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Question 103: To ask the Minister for Finance if he has received the report of the consultants commissioned to look at a range of tax breaks and shelters available to high earners; if not, when he will receive the report; if he will amend financial legislation arising from the report; and if he will make a statement on the matter. [26621/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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As the Deputy is aware, in my 2005 Budget Statement, I announced that my Department and the Office of the Revenue Commissioners would undertake a detailed review of certain tax incentive schemes and tax exemptions in 2005. This review was to evaluate their impact and operation including their economic and social benefits for the different locations and sectors involved and to the wider community. In addition the review was to examine the degree to which these schemes allow high-income individuals to reduce their tax liabilities.

I subsequently announced in a press release on 6 January 2005 that my Department had advertised for external consultants to review certain property tax incentive schemes. On 9 April 2005, I announced the award of two external consultancy contracts for the reviews. Following a detailed examination of the qualifying tenders by a special interdepartmental group, the successful candidates were Goodbody Economic Consultants in respect of the area-based urban renewal, town renewal, rural renewal and the living-over-the-shop schemes and Indecon Economic Consultants for the sectoral property tax incentive schemes, namely, multi-storey carparks, park and ride facilities, student accommodation, third level buildings, hotels, holiday cottages, nursing homes, private hospitals, sports injuries clinics, child care facilities and refurbishment of rented residential accommodation.

The complete reports from the consultants will be received shortly. On this basis, the reviews will be completed in time for consideration in the context of the 2006 budget and the Finance Bill.