Budget 2015 will boost investment and support start-ups – DEERING

14th October, 2014

Carlow Fine Gael TD, Pat Deering, has today (Tuesday), welcomed new jobs measures announced in Budget 2015 that will create more jobs in Carlow and across all regions of the country.

“This Budget is looking at jobs from two angles; measures announced today will see incentives for foreign direct investment, as well as the introduction of further support for start-ups. The measure announced will support inward investment and continue job creation, in particular for start-ups and SMEs .

“Last week Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, announced the New Entrepreneurship Plan which aims to increase the number of start-ups by 25%. Today’s Budget measures support this plan from a taxation point of view, making it easier for people to start their own business.

“This Budget includes supports for improved employment and investment schemes, there will be improved terms for the Credit Finance Scheme and capital spending will increase to over €500 million. A new Start Up Relief for Entrepreneurs (SURE) scheme will be launched to help unemployed people to start businesses, and an improved EII scheme will provide funding to SMEs.

“Additional measures will also be introduced to strengthen the flow of foreign direct investment and to further incentivise doing business in Ireland. The base year for the Research and Development (R&D) tax credit will be removed, a Knowledge Development Box will encourage companies to locate their intellectual property in Ireland and there will be a change to tax rules for senior personnel, making it worthwhile for the top international talent to choose to live and work in Ireland. This Budget provides certainty for international investors, facilitates long term investment in Ireland and secures high quality jobs.

“Continued tight management of the public finances is essential, along with a strong focus on job creation; the measures announced in the Budget today set us on course towards this goal. The economy is recovering and the country is moving in the right direction, but we need to make sure that people from all areas of the country begin to feel the effects of the recovery.

“Since the launch of the Action Plan for Jobs over 70,000 new jobs have been created. With capital spending being increased by €500 million, it is expected that 1,500 additional jobs will come as a result of the work of the Local Enterprise Offices (LEOs), 13,000 from IDA investment and another 13,000 from Enterprise Ireland.

“Our plan is working and job creation has been central to the economic recovery so far. Our challenge now is to secure and solidify our economic position, while providing competitiveness and certainty. This Budget will help to ensure that the people of Carlow see the improvements in their everyday lives.”