Revenue Note for Guidance

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Revenue Note for Guidance

835AAA Long-term public infrastructure projects


Section 835AAA provides rules pertaining to long-term public infrastructure projects.


(1) Provides that the Minister for Finance, in consultation with the Minister for Public Expenditure and Reform, may make regulations to specify an asset as a large-scale asset, but only where —

  1. specifying the asset would not give rise to a breach of State Aid rules,
  2. the purpose of the asset is to enhance the general public interest,
  3. it is in the public interest to so specify the asset, and
  4. the financing arrangements of the project present special features which justify the specification.

(2) Provides that in determining whether it is in the public interest to specify as asset as a large-scale asset the Minister will have regard to whether —

  1. the asset concerned would be likely to be provided, upgraded, operated, or maintained in the absence of such specification,
  2. specifying the asset concerned would distort fair competition, and
  3. specifying the asset would give rise to a loss of Exchequer income, and whether the public benefit of specifying the asset outweighs any such loss.

Relevant Date: Finance Act 2021