Vol. 529 No. 1
506 Mr. Yates asked the Minister for Finance if there has been any progress with the EU Commission in relation to the clearance of the town renewal scheme as it relates to the commercial aspects of it; if there is a problem with this approval; if not, when the scheme will be fully operational; and if he will make a statement on the matter. [2428/01]
As the Deputy is aware my Department formally notified the European Commission of the business elements of the new town renewal scheme on 19 July 2000 around the same time as the specific towns selected for the scheme were announced by the Minister of State at the Department of the Environment and Local Government. The Commission responded on 6 September 2000 with a request for additional information. The matter was then discussed in detail at meetings with the Commission and discussions in relation to the detailed content of the final reply are concluding with Commission officials at present. As things stand, it appears that it will take some more months before the business tax incentives elements of the scheme will be approved by the Commission. Such a delay is normal where Commission approval is concerned.
