asked the Minister for Finance if he will indicate the approximate annual revenue foregone as a result of the special tax allowances granted for (a) investment in buildings, plant and machinery, (b) investment in particular regions and (c) employment of workers in each of the following: industry, agriculture and services.
Written Answers. - Special Tax Allowances.
343.
Regarding (a) and (b), statistics relating specifically to the amounts of the allowances granted under these headings are not compiled but it is estimated that the cost of granting capital allowances on buildings as well as on machinery and plant in the year 1979-80 was of the order of £63 million. The cost of the investment allowance in that year for expenditure on machinery and plant in designated areas is estimated at £150,000.
With regard to (c), it is presumed that the question refers to the exemption, under section 27 of the Finance Act, 1979, of payments made by the Minister for Labour under the employment incentive scheme and the employment maintenance scheme. Based on information supplied by the Department of Labour, it is estimated that the cost of this exemption, in respect of payments made for the period 1977 to 1980, is as follows:
Industry: £9.0 million.
Agriculture: £50,000.
Services: £1.2 million.