Vol. 443 No. 6
19 Ms McManus asked the Minister for Finance the total amount of tax foregone through business enterprise schemes since they were introduced in 1984; the number of jobs created through these schemes; and if he will make a statement on the matter.
Statistics on the business expansion scheme are compiled by the Revenue Commissioners on the basis of amounts invested in the scheme as formally notified to them in the tax year ending 5 April each year. On that basis, the total estimated tax forgone on investments notified to the Commissioners in the tax years 1984-85 to 1993-94 was £152 million.
I am informed by the Revenue Commissioners that statistics relating to the number of jobs created by the business expansion scheme are not available. However, in late 1990 a general review of the scheme was conducted by my Department in conjunction with the Revenue Commissioners and the Departments of the Marine, Tourism and Transport and Industry and Commerce. The review identified growth of approximately 4,240 jobs in 347 companies which had received almost £95 million investment under the scheme at a cost of some £49 million to the Exchequer.
