Fine Gael TD Joe McHugh has said that Minister for Finance Michael Noonan TD’s third budget, announced today, as “a tough set of measures that is pro-enterprise and offers hope to Donegal’s core industries.
Joe McHugh TD
Reacting to Minister Noonan’s Budget 2014 speech from his Leinster House office, Deputy McHugh said “Today the Government has announced a Budget for the next 12 months which includes many tough measures. This country has reduced its spending-receipts deficit from 30% in 2010 to 4.8% in 2013.
“That massive but necessary adjustment involves changes that are difficult for many ordinary people. Minister Noonan’s budget today includes tough measures, is pro-enterprise and offers hope to Donegal’s core industries.
“This is a pro-enterprise budget. The Budget’s 13.5% tax break on investment in home renovation, up to a maximum of a €3,400 tax break on investment of up to €30,000, will give life to local construction contractors, who are a backbone of the local economy.
“The decision by the Minister for Finance to maintain the lower rate of VAT at 9% is a relief for the tourism industry, which is crucial for Donegal. The industry has acknowledged that the reduction by Fine Gael of the lower VAT rate to 9% in 2011 has created and sustained jobs in tourism and hospitality across the country. The measure was to be temporary and was to end in 2013. Today’s announcement that it will continue is important for Donegal tourism enterprises.”
He added that Budget 2014 offers a two-year income tax holiday to people currently on social welfare who set up new businesses.
“This is a very attractive activation measure. I know many people in Donegal who are currently out of work and who have good business ideas but who are caught in a welfare trap. This measure may give these people the opportunity to move into entrepreneurship.
“The Budget is pro-family. The burden of the Celtic Tiger collapse is being borne by many young couples, many of whom are crippled with Fianna Fáil-era mortgages. Free GP care for children aged 5 and under will be an important support for these hard-pressed families. I am also pleased that Budget 2014 guarantees that the pupil-teacher ratio will not increase. The announcement that 1,400 new teachers will be recruited in Irish schools in the next 12 months is welcome.
“2013, and particularly last winter and last spring, proved to be historically difficult for farmers. Budget 2014 acknowledges this with a new suckler cow support scheme worth €60 per suckler cow.
“The Irish people tasked Fine Gael and Labour in 2011 will building a new Ireland from the ruins of an economy that had been conceded to the European Central Bank. Today’s budget, though tough, represents another important step on the steady road to a brighter future.”
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