Vol. 562 No. 4
200 Ms M. Wallace asked the Minister for Finance the tax incentives available for the provision of park and ride facilities by the private sector to encourage the use of public transport, including trains and buses; and if he will make a statement on the matter. [6096/03]
To promote the provision of park and ride facilities, I introduced in the Finance Act 1999 accelerated capital allowances of up to 100% for capital expenditure on the construction or refurbishment of park and ride developments in or near designated urban areas which provide parking facilities for commuters using public transport. Relief is also available for expenditure on the construction or refurbishment of related residential developments which are located at park and ride facilities.
Guidelines on the operation of the scheme were issued by the Minister for the Environment and Local Government in August 1999. The guidelines set out various criteria which a park and ride development and residential developments which are located at park and ride facilities must meet in order to qualify under the scheme. Certification of a development for the purposes of obtaining relief under the scheme is carried out by certain local authorities.
The Finance Act 1999 also provided for capital allowances for commercial developments located at these park and ride facilities. Guidelines in relation to the commercial development element of these park and ride facilities were issued in July 2001 after discussions with European Commission officials on State aid rules. In my recent budget I extended the qualifying period from 30 June 2004 to 31 December 2004.
