Michael Ring (Mayo, Fine Gael)
Link to this: Individually | In context

Question 146: To ask the Minister for Finance if there is hope of getting tax designation for an area (details supplied) in County Mayo. [12126/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

A number of areas in Mayo are already designated for relief under the 2 main area based tax incentive schemes, Ballina was among the 42 towns and cities that had integrated areas designated for tax relief under the 1999 Urban Renewal Scheme, while Belmullet, Charlestown and Foxford had sub-areas and sites designated for tax relief under the Town Renewal Scheme. Under both of these schemes tax relief has been provided for the refurbishment and construction of certain residential, commercial and industrial buildings.

Following a major review of various property and area based tax incentive schemes I announced in Budget 2006 that most of the existing reliefs either had achieved the objectives set out for them or were no longer considered to be cost effective in terms of the objectives set out for them and were therefore being terminated subject to certain transitional provisions. These included the Urban Renewal and Town Renewal Schemes. While I will continue to assess the role that time-limited tax relief schemes can play in supporting public policy objectives, there are no proposals at present to re-introduce tax incentive schemes along the lines of the ongoing Urban or Town Renewal Schemes in County Mayo.