Dáil Éireann debate -
Tuesday, 17 Feb 1998

Vol. 487 No. 3

Written Answers. - Capital Allowances.

Pat Rabbitte

Question:

168 Mr. Rabbitte asked the Minister for Finance if he will proceed with the restrictions on capital allowances as announced in the budget; the representations, if any, he has received to have his plans changed; the sources of these representations; and if he will make a statement on the matter. [3734/98]

Minister for Finance (Mr. McCreevy)

The restrictions on capital allowances which were introduced by way of a Financial Resolution on budget day are provided for in the Finance Bill which is currently before the Dáil.

Since the restrictions were introduced, I have received representations on behalf of various projects which do not come within the transitional provisions including buildings in the Dublin Docklands area, hotels throughout the country, buildings in enterprise areas, multi-storey car parks, holiday cottage developments and holiday camps. In light of these representations, I have made limited modifications to the transitional provisions to meet genuine difficulties which the transitional arrangements have caused for some projects which were well advanced on budget day. These changes, most of which were announced on 29 January 1998, are provided for in the Finance Bill.