Vol. 526 No. 5
109 Mr. Stanton asked the Minister for Tourism, Sport and Recreation if an analysis has been carried out on the impact and results of the seaside resort scheme; his views in this regard; and if he will make a statement on the matter. [27095/00]
An interdepartmental group, comprised of representatives of my Department, the Departments of Environment and Local Government and Finance, the Revenue Commissioners, Bord Fáilte and Shannon Development, carried out a review of the pilot tax relief scheme for certain resort areas based on information available on the scheme's operation up to mid-1999. It concluded its work in December 1999.
The review estimated that the scheme was successful in stimulating some £600-£700 million in private sector investment in the 15 designated areas up to mid-1999, contributing to the regeneration of the resorts. However, the Revenue Commissioners advised that the exact amount of qualifying relief under the scheme could not be separately identified on individual tax returns, and it was tentatively estimated that the tax foregone was in the region of £250 million.
The group's findings have been noted by the Departments and agencies involved. It is to be hoped that the lessons learned and evolving best practice, which now points to greater integration with local planning, particularly in terms of infrastructure and a more targeted approach to investment incentives, will be taken into account in the design of any relevant tax incentive schemes in the future. The scheme expired in December 1999 and there are no plans for its reintroduction.
