asked the Minister for Communications in view of the fact that in the recent Green Paper it was pointed out correctly that the world shipping industry experienced its worst depression for 50 years and that many countries have tried to safeguard their shipping industry and in some cases have actually increased their fleet as in the case of the German, Dutch and Belgians and that incentives have been in the form of:— (a) a depreciation allowance of up to 40 per cent; (b) carry forward losses up to five years offset against tax; (c) low interest rates Government backed, and extended periods on loans; (d) a grant of 12½ per cent for ships built in Germany; and that the Green Paper points out that no special low taxation rates are in operation for shipping activities here, the reason restrictions were imposed in the Finance Act, 1984, on the availability of tax allowances for leasing arrangements for vessels thus affecting the shipping industry; and the reason the Government have never seriously looked at ways of correcting the imbalance under which Irish V/L's have had to trade.
16.