A fair Budget will help secure the recovery for all – DEERING.

14th October, 2014

Carlow Fine Gael TD, Pat Deering, has said today (Tuesday) that Budget 2015 is fair, and will help to secure the recovery for all sectors of Irish society. Low and middle income earners, the housing market, tourism and families have all been helped by today’s budget, and the sacrifices made by people over the last seven years will not be wasted.

“This Government understands that a lot of people have made real sacrifices to help this country recover – we won’t waste that sacrifice. Raising the threshold for the top rate of tax to almost €34,000  will help thousands of people have a secure income, while cutting the top rate to 40% also helps to ease the burden on hard working families. Another 80,000 people have been taken out of the Universal Social Charge (USC) net – meaning this Government has removed more than 400,000 people from having to pay the charge since coming into office.

“Over 1000 new teachers and teaching assistants will be hired, and the capital investment programme will see more schools repaired and built. There will be more Gardaí on the streets, and hundreds of new Garda vehicles will be purchased – helping to make communities more secure.

“The levy on private pensions has been cut from 0.6% to 0.15%, and will be abolished at the end of next year.

“The 9% VAT rate for the tourism and hospitality sector – which has created thousands of jobs and protected thousands of others – has been retained.

“The new state Strategic Investment Bank will make lending available to small businesses throughout the country, and other banks have now been persuaded to do the same.

“This Government is also committed to addressing the housing and accommodation issue. Thousands of social houses will be built over the next few years, while the extension of the home renovation initiative will mean that landlords can restore and upgrade rental accommodation, hiring thousands of builders to do the work. The Government is conscious of the need to help young people to get onto the housing ladder, by waiving DIRT tax for those saving for house deposits.

“This Government understands that families and vulnerable people need to be protected. This is why reliefs on water charges are being given to working families, and allowances are being made for those in vulnerable financial positions. That is why child benefit is being increased, and why there will be additional payments to Social Welfare recipients at Christmas. All of this is responsibly funded – as we will never go back to the boom and bust mistakes of previous Governments.

“We know that people have made real sacrifices to help the country get to where it is today. This is now the first in a series of budgets designed to secure the recovery, make it real for families across the country and build for the future. ”