BES scheme to stay for another three years

The Business Expansion Scheme (BES) is to be extended to the end of 2006, announced the Minister for Finance Charlie McCreevy's in his Budget speech in the Dáil today.

The successful BES gives tax relief to investors who put funds into qualifying businesses, mainly small and medium companies in manufacturing and traded services and has received criticism in recent months with lobbying for the scheme to be canceled.

The amount available to eligible firms has also been increased from the previous maximum amount available of €750,000.