asked the Minister for Industry and Commerce if assistance by way of guarantee has been provided by the IDA to the proposed refinery in Bantry Bay; and if he will agree to withdraw this facility as other companies are prepared to provide a similar or larger refinery without such State help.
Ceisteanna—Questions. Oral Answers. - Bantry Bay Refinery.
1.
Negotiations have been in progress between the Industrial Development Authority and the promoters of the proposed refinery in Bantry Bay. It would not be proper for me to give any information about the progress of these negotiations until they are completed and the promoters have taken their final decision to go ahead with the project.
The Deputy may be assured, however, that all relevant factors will be taken into account by the authority and by the Government in reaching a final decision on the project.
In view of the United States Treasury recommendation on changes in the taxation on foreign source income, will this refinery still be a viable proposition if those recommendations become law in the United States?
The decision about viability is a matter for the people involved in the project but, as the Deputy is aware, I am dealing with the matter of the proposed changes in the United States tax law and their influence on Irish industrial development in a later question.