Dáil Éireann Debate, Tuesday - 10 December 2013
146. Deputy Michael McGrath asked the Minister for Finance if he will set out in tabular form the annual number of participants in the employment and investment incentive scheme since its inception; the cost in each year of the scheme; the approximate number of jobs it supports; and if he will make a statement on the matter. [52897/13]
View answerThe EII was introduced from 25 November 2011 and no investments were approved in 2011. For the year 2012, the latest year available, the estimated cost to the Exchequer for the EII was €4 million in respect of 376 investors including 2 EII funds. Full year data for the year 2013 will not be available until after the end of the year but indications are that the cost will be significantly higher.
I am informed by the Revenue Commissioners that data in relation to the number of jobs supported is not available at this stage but may become available from 2016 onwards. Under the terms of the scheme, relief in respect of 30% of the amount invested in a qualifying company is granted to the investor in the year of investment, while the balance is only due where it has been proven that employment levels have increased at the company at the end of the holding period (3 years) or where evidence is provided that the company used the capital raised for expenditure on research and development. Claims for the balance of the relief will be due from 2015 so that data on the number of jobs created under the scheme should become available from that year.
