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Dáil Éireann díospóireacht -
Tuesday, 26 May 1998

Vol. 491 No. 3

Written Answers. - Job Creation.

Joe Higgins

Ceist:

234 Mr. Higgins (Dublin West) asked the Minister for Finance the number of net new jobs projected to be created by companies that raised capital in the tax year 1995-96 under the business expansion scheme. [12092/98]

Since 1992 the Revenue Commissioners have been collecting figures with a view to assessing the growth in employment in firms assisted by the BES. While the figures available so far do not, in themselves, provide reliable indicators of the total number of jobs saved or created solely because of the BES, they provide a basis for more detailed reviews of the economic efficiency of the BES.

In late 1997 a general review of the business expansion scheme was undertaken by the Department of Enterprise, Trade and Employment. This review showed that for the period from February 1996 to the end of September 1997, 151 companies certified by Forbairt, which intended to raise just over £86 million investment under the scheme, planned to create or maintain 5,004 jobs. It is estimated that, based on the level of tax relief available at the time, the tax foregone by the Exchequer on the amount raised would be in the region of £41 million.

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