Anne Ferris (Wicklow, Labour) | Oireachtas source

We have heard much in the past two days about the effect of the budget on the country as a whole. I wish to focus on what the budget will do for a single constituency, namely, the one I represent, Wicklow. The main headline in this morning's The Irish Times tells us that the budget has given the country a €500 million jobs stimulus package. That is a simple sum, which adds up the incentives for job creation outlined in the budget but each of those incentives is worth far more to the economy than simply the cost of the incentive. For the people of Wicklow alone, the effect of the incentives in the budget represents an employment investment opportunity worth an estimated €500 million directly, and much more indirectly, through increased economic activity and tourism growth that cannot yet be quantified. It certainly means jobs for young people. The budget offers real hope for unemployed construction workers and opportunities for construction-related small industries to grow and expand.

Let us look at the detail. There is the new home renovation incentive.This tax incentive will put an estimated €1.7 million in tax relief directly into the pockets of householders in Wicklow. If that encourages only 10% of the households in Wicklow to renovate a bathroom, repair a roof or tile a kitchen it could generate a further €50 millionor more in the local economy of County Wicklow. Under the start your own businesstax exemption scheme, people who are unemployed for more than 15 months who start up a business can claim up to €40,000 for each applicable year in income tax exemptions. This measure applies to approximately 4,500 long-term unemployed people in Wicklow. Enterprise Ireland tells us that 8% of the population are aspiring entrepreneurs. Even if only 8% of the currently unemployed entrepreneurs in County Wicklow take up the challenge it will put €14 million into the local economy. It will of course generate far more than that in economic value through the businesses it creates.

I am very pleased about what the new film relief schemewill do for my constituency. Wicklow has a long history in film production that stretches back to the 1950s with the opening of Ardmore Studios in Bray. We have seen big Hollywood names such as Julie Andrews and Fred Astaire to the stars of today such as Daniel Day-Lewis and Meryl Streep. Wicklow film sets have hosted hundreds of the world's best loved actors. This new incentive, which will extend tax relief to non-European citizens, opens the door to one of the most lucrative film sectors, the Bollywood blockbuster. A few months ago I was invited to tour the new Ashford Studios where the hit television drama “The Vikings” was being filmed. The plans to expand the studio are to make it rival the great Pinewood Studios in England. Around the same time that I visited Ashford Studios, it hosted five producers from India's biggest studios. The Indian film executives also viewed several spectacular outdoor locations in Wicklow including Luggala and Powerscourt Gardens. There seemed to be no doubt that those influential film-makers liked what they saw.

Tax breaks in this sector are well proven. The €11 million in tax breaks last year generated ten times that amount in foreign investment. The planned €15 million in this budget will easily generate €150 million of film work in Ireland. Given the long established film-making culture in Wicklow and the modern facilities at Ashford and Ardmore, the economy of Wicklow could benefit directly by up to €50 million from the film revenue generated through this incentive.

The budget will help tourism in County Wicklow in other ways. The retention of the 9% VAT rate for the restaurant and hotel sector is something for which I lobbied long and hard. I am pleased the campaign worked.

The living city initiative offers generous tax incentives for the remediation of pre-1915 houses in Dublin. Many people engaged in the construction sector, including architects who live in Wicklow, will benefit directly from that.

See this speech in context