Jimmy Devins (Sligo-Leitrim, Fianna Fail)

There is no doubt in my mind that this budget was universally accepted as one of the most successful budgets in the history of this country. I congratulate the Minister, Deputy Cowen, for the thought and diligence he put into preparing and presenting the budget. There has been a lot of media coverage during the past few days regarding the tax exemption schemes, in particular the urban and rural renewal schemes. Most of the coverage, I am afraid to say, has been from a purely economic point of view, which tends not to take into account the human and sociological aspects of life.

In my constituency of Sligo-Leitrim, I see at first hand the dramatic impact of both schemes. In the first instance, Sligo city is unrecognisable today from what it was ten years ago. It was then a town which, by common consent, had not achieved its full potential. Most of its shops, offices and streetscapes had not changed for 80 to 100 years. Commercially, there was a fear that Sligo was dropping behind many of the towns and cities within a 90 to 100 mile radius. People from Sligo started to shop and do their business elsewhere.

I would like the House to contrast that picture with the one we have today. We now have one of the largest shopping centres in the north west, which opened last year. A massive reconstruction is occurring throughout the city centre, with new shops, offices, hotels and retail parks opened or about to open. A great sense of excitement and prosperity is in the air. The city has been refocused towards having the river Garavogue as its focal point, with cafés, restaurants and modern buildings housing a host of activities. A key component of this regeneration is the impetus supplied by the urban renewal scheme. It is not the only reason for the transformation that has taken place in Sligo. However, it is an extremely important component.

Likewise, many areas of County Sligo and the entirety of County Leitrim have benefited from the rural renewal scheme. Villages which were literally dying on their feet have been reinvigorated and many small towns and villages show an increase in population for the first time in more than 100 years. It may not mean much to people who live along the east coast, where population densities can be quite high. However, when the population in a small village or townland increases from 30 to 60 or 70 people, it represents an increase of more than 100% in numbers. Sociologically, that small increase can mean the difference between life or death for that area.

The Minister pointed out that life has been restored to the west and north west by the success of these schemes. There is an indication that these schemes will be tapered off. The Bill also includes many other changes, which will ensure that growth and employment continue, while at the same time making sure that those on low to middle incomes are major beneficiaries. Nobody on the minimum wage will pay tax. Those on the average industrial wage will pay tax at the lower rate, not at the upper rate as is currently the case. The closing off of tax advantages to high income earners is most welcome. Everybody will now pay their fair share of tax according to their means.

The provisions relating to child care have been well discussed and well flagged. I commend the Minister for his vision in introducing them. The Bill also contains many more provisions that are welcome, but time does not permit me to refer to them. I commend the Bill to the House.

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