Vol. 529 No. 1
447 Mr. Ring asked the Minister for Finance if the Government has received EU approval for the tax incentive rate for commercial properties under the town renewal scheme 2000; when he expects approval will be announced; and if he will make a statement on the matter. [2184/01]
As the Deputy is aware, my Department formally notified the European 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 the 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 then discussed in detail at meetings with the Commission and discussions in relation to the detailed content of the final reply are concluding with Commission officials at present. As things stand, it appears that it will take some more months before the business tax incentives elements of the scheme will be approved by the Commission. Such a delay is normal where Commission approval is concerned.
