2012

Additional Funding for CWP and Tus scheme placements

office 2012, Wicklow - East Carlow

I welcome the announcement of additional funding of €695,274 for Co. Wicklow partnership and additional places on Tus schemes for the County and believes that this funding and these additional places will go a long way to help progress the valuable work being done by the Partnership in communities across Wicklow.

The funding made available by Minister Hogan is part of a national allocation for 2,500 Tus places nationally with a total of €8 million for County Partnerships around the country.

County Wicklow Partnership (CWP) was formed as a result of a merger between Arklow Community Enterprise, Wicklow Working Together and Wicklow Rural Partnership. The company came in to effect on 1st January 2009.

The Tus programme administered by CWP has consistently been in the top three nationally and on that basis I would expect the funding for extra places to be allocated based on previous performance.

The work of the CWP is carried out through a series of publicly funded programmes and projects, funded largely through the Dept. of Community, Rural and Gaeltacht Affairs and the HSE.  The Partnership covers the whole of Wicklow except for Bray.

This is really a good news story. I am very familiar with the good work being done by the Co. Wicklow Partnership across a range of family support, employment, rural & personal development programmes which enhances the lives of many Wicklow residents and communities.  With a Vision Statement which aims to effect change in the County by supporting the social, cultural, economic and environmental well being of individuals, families, groups and communities; the news of this funding is indeed most welcome.

SME job creation in Budget 2013

office 2012, Dáil Éireann

Today I welcome the job creation measures announced by the Minister for Finance, Michael Noonan TD, in Budget 2013.

I welcome the measures announced by Minister Noonan aimed at protecting jobs and creating new ones. Ireland has a large export market which has been making steady progress over the last eighteen months, supported by a growing indigenous sector which is boosting our export growth. Budget 2013 contains measures which will address the difficulties many SMEs face in today’s difficult economic climate.

One such measure is the 10 Point Tax Reform Plan. This includes measures such as reforming the three year corporation tax relief for start-up companies to allow unused credits to be carried forward; increasing the cash receipts basis threshold for VAT from €1 million to €1.25 million and amending the close company surcharge; amending the R&D tax credit by doubling the initial spend eligible for the credit from €100,000 to €200,000 to encourage innovation and business expansion; and extending the Foreign Earnings Deduction for work-related travel to certain countries and beyond the BRICS.

These measures along with previously announced schemes;-including the Microenterprise Loan Fund and the Temporary Partial Loan Guarantee Scheme; will help SMEs to improve their cash flow, help them access funding, boost demand for their products in new markets and incentivise them to create jobs.

As small businesses, I welcome also that many of the other reforms in the 10 Point Tax Reform Plan will benefit farming and the agri-food sectors.

Access to credit has been a major challenge for new and existing small businesses. While the Minister for Enterprise, Jobs and Innovation, Richard Bruton TD, has already done a lot of work to assist SMEs in getting credit, additional measures were announced in Budget 2013 which will provide even more support in this area*. These include; improving response times at the Credit Review Office (CRO), the publication by the CRO of specific guidance for SMEs on accessing credit from banks; and the development of a range of support funds to provide equity, finance, restructuring and recovery investment to the SME sector. The funds are expected to range in size from €100 million to €400 million.

I would like to commend Ministers Noonan and Bruton for keeping such a strong focus on job creation in what is a very difficult economic climate. Budget 2013 is about fairness, stimulating jobs and encouraging SMEs to create jobs and I believe that the Government has struck this balance without increasing income tax.

*A full list of business supports is available here: http://www.enterprise.gov.ie/News/News-Archive/Departmental-News/Financial-Support-for-Irish-Business.html*