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Dáil Éireann debate -
Thursday, 5 Oct 2000

Vol. 523 No. 3

Written Answers. - Town Renewal Scheme.

Billy Timmins

Question:

86 Mr. Timmins asked the Minister for Finance when the commercial incentives for the urban renewal scheme will be put in place; and if he will make a statement on the matter. [20986/00]

I assume that the Deputy is referring to the town renewal scheme as the urban renewal scheme was approved by the EU Commission in June 1999 and the business elements of that scheme were introduced with effect from 1 July 1999. My Department formally notified the EU Commission of the business elements of the new town renewal scheme on 19 July 2000 around the same time as the specific towns selected for this new town renewal scheme were announced by the Minister of State at the Department of the Environment and Local Government. The Commission responded on 6 September with a request for additional information. The matter was discussed in detail with the EU Commission at a meeting on 27 September 2000 and a reply to the Commission is currently being prepared. As things stand at present, it appears that it will take some months before the business tax incentive elements of the scheme will be approved by the EU Commission. Such a delay is normal where EU Commission approval is concerned.

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