Richard Bruton (Dublin North Central, Fine Gael)
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Question 93: To ask the Minister for Finance the terms of reference of the two consultancies examining tax reliefs; the time limits which have been set for interim and final reports on each aspect of the project; if he has received findings; and if it is a fixed price contract for the consultancies and the expected cost. [28575/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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In the 2005 budget, I announced a comprehensive programme of reviews of a broad range of tax incentive schemes and tax exemptions. Many of these schemes are being reviewed internally within the Department of Finance and the office of the Revenue Commissioners. In addition, following a competitive tendering process, two external consultancy firms were retained to conduct reviews of the range of property based tax incentive schemes. The two firms in question are Goodbody Economic Consultants and Indecon International Economic Consultants.

The terms of reference for the consultancy studies are set out in a press release issued on 6 January 2005, which is publicly available on the press releases section of my Department's website, www.finance.gov.ie. Completed reports from the two consultancy firms are expected shortly, in line with the provisions of the contracts.

On costs, the contracts stipulate that Indecon International Economic Consultants are to be paid the sum of €224,004, before VAT, in respect of the review of certain property based schemes, and that Goodbody Economic Consultants are to be paid the sum of €155,400, before VAT in respect of the review of area based tax incentive renewal schemes.