Billy Timmins
Question:49 Mr. Timmins asked the Minister for Finance his plans to designate Bray as a tax designation for a seaside resort; and if he will make a statement on the matter. [9691/03]
Written Answers - Tax Reliefs.
The seaside resort scheme was announced in the 1995 budget and commenced on 1 July 1995. It was extended on two occasions and terminated on 31 December 1999. I did not extend this scheme beyond that date or designate other areas under a similar scheme as it had fulfilled its purpose by encouraging a large volume of investment in the 15 designated seaside areas.
As the Deputy may be aware, I confirmed in my latest budget the termination dates for a range of incentive schemes including the urban renewal, rural renewal and park and ride schemes. This announcement was made in the context of the general policy of broadening the tax base in an effort to keep the current low rates of income and personal taxation. For all these reasons, there are no plans for the introduction of a further round of designations under either the seaside resort scheme or a similar tax incentive scheme for coastal resort areas.