asked the Minister for Finance the number and value of investments undertaken by funds under the business expansion scheme in the last financial year, disaggregating them by sector of economic activity.
Written Answers. - Business Expansion Scheme.
61.
I have been advised by the Revenue Commissioners that the latest information available relates to subscriptions to designated funds in 1987-88. Such subscriptions in that year amounted to £5.4 million.
Further information in relation to this amount will not be available until some time after 5 April 1989. This is because section 8 of the Finance Act, 1987, amended section 12 of the Finance Act, 1984, so as to provide that, in the case of investments through designated funds, relief under the business expansion scheme may, at the option of the investor, be granted for the year of assessment in which the investment in the fund is made provided that the eligible shares are issued in the year of assessment following that year.
62.
asked the Minister for Finance the estimated value of revenue foregone in 1988 and the projected value for 1989, through the operation of the business expansion scheme.
Following is the information requested in so far as it is available:
|
Year ended 5 April |
Estimated cost to the Exchequer |
|
£m |
|
|
1988 |
5.6 |
|
1989 |
9.5* |
* Provisional.