John Bruton
Ceist:228 Mr. J. Bruton asked the Minister for Finance if he will answer the second part of Parliamentary Question No. 275 of 29 January 2003, which has not been answered. [3266/03]
Written Answers. - Tax Incentives.
As I have already stated in my previous reply, 100% capital allowances are available for the construction or refurbishment of park and ride developments. The Deputy may be aware that the standard rate of capital allowances for industrial buildings is 4% per annum. The Department of Transport is currently in the process of contacting all the relevant local authorities to provide an estimate of the number of persons who have availed of capital allowances for the construction of park and ride facilities. This information will then be supplied to my Department which will then examine the scheme, including any obstacles that may have arisen regarding the effectiveness of the scheme. However, the Deputy will be aware that in my recent budget I extended the qualifying period for the expenditure under the scheme to 31 December 2004, which will be the termination date for the scheme. I have no proposals to make any changes to it in the meantime.
Questions Nos. 229 and 230 answered with Question No. 219.