Thursday, 30 May 2019

Ceisteanna (61)

Michael McGrath

Ceist:

61. Deputy Michael McGrath asked the Minister for Finance the annual cost of the start-up refunds for entrepreneurs for the previous five years; the number of companies that availed of the scheme in each of these years; and if he will make a statement on the matter. [23152/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Start Up Refunds for Entrepreneurs (SURE) provides a refund of tax paid in the previous six tax years to those previously in PAYE employment, or recently unemployed, where they invest funds into a new business set up by them.

The most recent year for which statistics are available on this incentive is 2016. The cost and number of individuals who have availed of SURE for each year from 2012 to 2016 inclusive are as follows:

Year

Cost €m

Claimants

2016

1.9

80

2015

1.8

86

2014

1.8

59

2013

1.3

60

2012

1.6

88

As the Deputy will be aware, in 2018 I commissioned a review of the Employment and Investment Incentive (EII) and SURE. Following on from the recommendations made in this review, I have extended both incentives to 31 December 2021.