URBAN renewal projects worth millions are under threat due to uncertainty whether tax incentives will be available after the current scheme expires next year, according to Mr Eoin Ryan TD, the Fianna Fail spokesman on urban renewal.
He said yesterday that several large developments in Dublin, as well as projects in Cork, Galway, Sligo and Ballina, were "in jeopardy" because they would not be completed before the July 31st, 1997, deadline.
Ms Liz McManus, the Minister of State for Housing and Urban Renewal, has said no decisions would be taken on any new scheme until after a review of the existing package.
Mr Ryan said urban renewal was "a very profitable" investment for the Government - "worth about £350 million per year and sustaining up to 1,200 jobs".
He said one third of the value of each project returned to the Government in VAT, PAVE, PRSI and levies.