No allowance for 1% levy defended

FINANCE Minister Brian Lenihan has defended his decision not to deduct capital allowances for farm waste management, before applying the new one percent levy to farm incomes.

“In the context of a one percent levy, I do not believe the refusal is unreasonable,” he told the Select Committee on Finance and the Public Service.

During committee stage discussion of the Finance Bill, 2008, Deputy Richard Bruton, of Fine Gael, asked the Minister if he would consider capital allowances on investments undertaken to comply with Government requirements.