Seán Sherlock (Cork East, Labour)
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Question 201: To ask the Minister for Finance his views on a continuation of the urban renewal scheme for towns where a RAPID designation exists and where such towns have a degree of dereliction and a diminution in town centre development; and if he will make a statement on the matter. [23000/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Following a major review of various property and area based tax incentive schemes it was announced in Budget 2006 that most of the existing reliefs either had achieved the objectives set for them or were no longer considered to be cost effective in terms of the objectives set for them and were therefore terminated subject to certain transitional provisions. These included the Urban Renewal and Town Renewal Schemes. The role that time-limited tax relief schemes can play in supporting public policy objectives is assessed continually in the formulation of tax policy in the context of the annual Budget process.