Docklands tax breaks under threat

THE economic slowdown could threaten tax breaks for Cork’s multi-billion docklands regeneration.

The Environment Minister said yesterday that given the current “straitened circumstances” the Government would have to look very carefully at the issue.

Tax breaks are crucial to help kick-start the regeneration of the city’s docklands.

Business leaders reacted with disappointment last month when the Finance Minister failed to announce tax breaks in the budget.

It is hoped they will be included in the Finance Bill which will be enacted in early April.

However, following a city official-led tour of the docklands region yesterday, John Gormley said more discussions are needed before a decision on tax breaks can be made.

“It is a matter in the first instance for the Minister for Finance,” he said.

“But we’ll have to look at it in more detail given the more straitened circumstance that now prevail.”

Mr Gormley also met with the Chamber of Commerce and with a number of developers planning to build in the docklands.

The project envisages the creation of a new urban waterfront with thousands of apartments, offices and parks, and with a population of up to 70,000.

“If you take the example of Dublin, the docklands project there has been enormously successful,” said Mr Gormley.

“If Cork’s project is on same scale it will be hugely successful and beneficial for the city.”

A funding application from the city for crucial infrastructure, including an €80 million bridge to open up the south docks, is being assessed by consultants, he said, and a decision is expected early next month.

Meanwhile, Green Party Senator Dan Boyle, who helped negotiate the party’s path into Government, brought the minister to his former primary school yesterday.

Mr Gormley was briefed by Scoil Chríost Rí Presentation Brother’s Green School committee on their efforts to secure their first ‘green flag’.

They have reduced the school’s waste output and boosted recycling.

Following a power point presentation by fifth-class pupil Conor Mulcahy, the minister was also told that the school is working to reduce the amount of electricity it uses.

Junior infants teacher Emma McCarthy, who chairs the committee, said a student in each class has been assigned to turn lights off when classrooms are unoccupied.

And all the computers are turned off every day when classes finish.