Minister hails expansion schemes

FINANCE Minister Brian Cowen says Business Expansion Schemes (BES) are necessary if job expansion at small Irish firms is to continue.

Minister Cowen said BES schemes have been good for manufacturing, good for jobs and good for investment in small firms.

The Irish Congress of Trade Unions (ICTU) is planning to make a complaint to the European Union about the Minister’s decision to extend the life of BES for another seven years. It says the BES are being used as tax breaks for wealthy investors.