Vol. 525 No. 2
859 Mr. Yates asked the Minister for Education and Science the way in which financial aid for the construction of student accommodation units will be administered in designated areas; the level of grant aid if payable; and the way in which it is processed. [24207/00]
My Department does not provide direct financial aid for the provision of student accommodation. However, in recognition of the difficulties facing the student population in finding good affordable accommodation, the Government introduced tax incentives to encourage the provision of student rented residential accommodation in section 50 of the Finance Act, 1999.
The tax relief will be available for expenditure up to 31 March 2003. The opportunity exists, therefore, to create significant additional accommodation for third level students.
