Watch out for the rush to build private hospitals around Dublin now that Charlie McCreevy has created new tax breaks for developers. Not people to be caught unawares, especially when it comes to finding tax shelters, several developers are getting ready to unveil plans for spanking new hospitals which will go into opposition against Blackrock Clinic, now 15 years on the go and operating close to full capacity for much of the year.

However, there is little likelihood that we will see too many private hospitals opening around Dublin, given the high level of investment that will be required. Promoters will have to offer a range of medical facilites such as at least 100 beds, all year surgical and medical services, an accident and emergency unit and at least five specialist services.

Like the Government requirement for social housing on private sites, hospitals will have to set aside 20 per cent of the beds for public patients.

Although developers and investors will be able to write off, over seven years, 100 per cent of the cost of building or refurbishing hospitals , and of the cost of equipping them, it is still a game for the big boys with plenty of money and, more importantly, the right medical contacts. With rich pickings now available in the private medical field - largely because of the chaotic conditions in public health areas - it is hardly surprising that a group of British medics are also scouring the city looking for a suitable site for a private hospital. Inevitably they will do business with one of the developers pitching for the business.