Dáil Éireann Debate, Tuesday - 11 November 2008
236 Deputy Michael Creed asked the Minister for Finance if he will provide for tax relief in the Finance Bill 2008 for the necessary remediation works on vacated SEVESO sites in the Cork docklands in order to facilitate the redevelopment of these areas; and if he will make a statement on the matter. [39673/08]
View answerIn my Budget speech on 14 October, I announced the introduction of a new tax incentive scheme to facilitate the relocation of Seveso-listed industrial facilities which hinder the residential and commercial regeneration of Docklands in urban areas. The EU Seveso Directive seeks to protect public safety by placing land-use restrictions on new residential and commercial development near locations where potentially dangerous activities are undertaken. The Deputy will also be aware that I indicated in my speech that this scheme will be subject to clearance by the European Commission from a State Aids perspective. In discussions which have been held between officials and the EU Commission about the regeneration of urban docklands, the Commission has indicated that the use of tax incentives to facilitate the remediation of sites vacated by Seveso-type industrial facilities for any future residential and commercial use will not pass the EU State Aid rules because of the "polluter pays principle". This ensures that an industry that creates a pollution incident (or in this case, which undertakes the land-use that has damaged a particular location) must bear the cost of remediating the property back to a pre-pollution/pre-damage, land-use basis.
