Finian McGrath
Ceist:124 Deputy Finian McGrath asked the Minister for Finance if he will support a matter (details supplied). [4532/11]
Amharc ar fhreagraTuesday, 1 February 2011
Ceisteanna (18)
Freagraí scríofa
Section 23 of the Finance Bill 2011 as passed provides for the progressive restriction and eventual abolition of the use of accelerated capital allowances under the various property and area-based tax incentive schemes. This includes the scheme for qualifying residential units associated with registered nursing homes. At the time of the Budget last December I undertook to have an economic impact assessment carried out on the possible effects of this measure in advance of the final closing-off of all these reliefs by the end of 2014. During the period between the Budget and the Finance Bill there was a significant level of concern expressed by individuals and groups, in particular regarding the downstream effects of the changes on the economy, and on employment. In order to take due account of these concerns I proposed that the economic impact assessment should be undertaken in advance of the commencement of the provisions. Thus, the restrictions in the Bill would now be commenced by Ministerial order not earlier than 60 days after the publication of the results of this economic impact assessment.
It will be a matter for the Minister for Finance of the day to decide whether or not to commence these provisions in whole or in part in the light of the outcome of the impact assessment at that time.