Cork South Central TD, Jerry Buttimer, has said that announcements by the Minister for Finance, Michael Noonan, TD, are encouraging enterprise and jobs.
“The announcement by Minister to Noonan that there will be no increase in income tax will be welcomed by every worker in the country. For all income tax payers their take home pay will be the same in 2012 as it is now. The decision to abolish the Universal Social Charge (USC) for people who earn less than €10,000, which will rebalance the original unfairness of this charge, will be a welcomed boost for low paid workers. Both of these measures show the government’s commitment to rewarding work.
“As well as rewarding work the Minister is also encouraging enterprise and job creation. A range of measures announced will make it easier to develop business in growth markets, easier to run a start-up company and, ultimately, easier to create jobs.
“There is a targeted deduction to incentivise businesses developing trade with the emerging markets of Brazil, Russia, India, China and South Africa. This will incentivise export businesses to grow their enterprise in these key markets.
“The extension of the corporate tax exemption to include start-up companies who commence trading in 2012, 2013 and 2014 will encourage job creation. Start-up companies create most new jobs and this measure is another example of this government prioritising job creation.
“Taken together, maintaining existing income tax rates and bands, abolishing the USC for the low paid, encouraging exports and start-up companies, these initiatives show that the government is prioritising job creation. The government had to take some very difficult budgetary decisions, at the same time it is important that we continue to implement our plan for economic recovery and job creation. Encouraging enterprise and jobs is an essential part of getting Ireland working again and I am pleased that the government is delivering on these key objectives.”