Budget aids Clare’s economic recovery

Budget 2015 will aid Clare’s continuing economic recovery, according to local TD Pat Breen, who said it is very much focused on supporting job creation and growth and encouraging consumer confidence.

“The retention of the 9% VAT rate for the tourism sector is particularly welcome. The introduction of this rate in 2011 has been credited with the creation of 547 jobs in Clare’s tourism industry since then and keeping the rate at this level is important to build on the growth, which tourism providers in the county have experienced this year,” he said.

Deputy Breen  acknowledged Shannon Airport’s return to growth is also contributing to the Clare’s positive tourism figures.

“Raising the threshold for the top rate of tax to almost €34,000 will help thousands of people to have a secure income, while cutting the top rate to 40% will help ease the burden on hard working families and boost consumer confidence and will help to maintain local businesses in Towns like Kilrush, Ennistymon, Ennis and Shannon,” Deputy Breen said.

He noted that farming in Clare supports thousands of jobs in the rural economy, directly and indirectly, in the food and drink processing and the value of agricultural exports arising from the agricultural output in this county is worth in the region of €273m.

“Budget 2015 includes a comprehensive package of measures to encourage young farmers into the Industry such as increase, as well as targeting of agricultural relief from Capital Acquisitions Tax to qualified or full-time farmers to those who lease land out on a long term basis,” he said.