Vol. 525 No. 1
56 Mr. Yates asked the Minister for Finance when he anticipates that the full EU Commission clearance will be given to all aspects of the town renewal scheme with particular reference to the commercial aspects of it; if his attention has been drawn to the fact that many projects are being delayed due to the absence of such EU approval; and the steps he is taking to expedite this matter. [19732/00]
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 2000 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. Officials from my Department will be meeting the Commission again shortly as part of the notification process. As things stand at present, it appears that it will take some more 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.
