Tuesday, 19 July 2011

Ceisteanna (106)

Pearse Doherty


117 Deputy Pearse Doherty asked the Minister for Finance if he will provide this Deputy with data on the likely uptake for the employment and incentive scheme, which was announced in 2010 to replace the business expansion scheme. [21038/11]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Minister for Finance)

It is difficult to forecast in advance the precise level of take-up of the new scheme. Due to the increase in the number of trades that can qualify for the scheme it is expected that there will be an increase in the take-up of the scheme in comparison with the existing Business Expansion Scheme.

A number of take-up scenarios were put forward in an ex-ante economic impact assessment of the Employment and Investment Incentive that was completed by my Department. This report is available on the Department of Finance Tax Policy website at http://taxpolicy.gov.ie/wp-content/uploads/2011/03/EIIEconomicImpact.pdf. I would point out that the new scheme is subject to Commencement Order and my officials are engaged on ongoing negotiations with the European Commission with regard to achieving State Aid approval for the scheme.