asked the Minister for Finance if, in order to encourage property owners to improve, add to, rebuild, or in any way renovate their premises and so give immediate employment, he will introduce proposals for legislation that will protect them from increases in valuation or increased taxation or rates on the improved property for a period of seven years.

As the concession referred to by the Deputy could begiven only by increasing the burden on other ratepayers, I am not prepared to introduce proposals for legislation on the lines he suggests. The existing law provides for a number of reliefs of the kind he has in mind and I do not think that further large-scale extension of these reliefs is warranted.

Is the Minister aware that a number of owners of businesses who would be anxious to rebuild and give good employment and increase their business will not do so because of the fear of increased taxation brought about by new valuations which will prevent them from carrying on their business with a fair profit?

I am not, because I would assume that if any person is going to invest money in the construction of business premises he will certainly expect a very much greater return from that money than would cover his increase in rates.

That is not so and the Minister knows it is not so.

Can the Minister state what existing reliefs apply to the renovation of business premises?

I should say that is a separate question, but I know they are considerable.

Could the Minister say what is the existing law with regard to that?

That is a separate question.

It is dealt with in the Minister's reply.

It is a separate question.