Niall Blaney (Donegal North East, Fianna Fail)

I welcome the opportunity to speak on this legislation, which is probably the best ever Finance Bill to have come before the House. A vast range of reliefs, particularly tax reliefs, has been provided across the board. Those reliefs aimed at middle to low-income earners have been generally welcomed by the public. It was an excellent move to increase PAYE credits, which will ensure that those on the minimum wage will continue to be outside the tax net in 2007. In addition, increases in personal tax credits and bands will ensure that at least 80% of earners will pay less than 20% of their income in taxes this year.

Another particularly good step entailed doubling the ceiling on mortgage interest relief for first-time buyers, so they can reclaim that relief. I personally lobbied the Minister on that proposal. Before the budget there was much talk about tackling this matter in other ways. There were proposals to cut taxes and increase grants to first-time buyers, but such measures would not have helped them as the benefits would have been swallowed up by developers. I look forward to welcoming other such measures, akin to doubling the ceiling on mortgage interest relief for first-time buyers, in the future.

The Bill's proposals for the business sector are also welcome. These are particularly aimed at small to medium-sized enterprises. County Donegal relies heavily on such businesses, which are the backbone of the local economy, carrying the county forward by creating employment. Economic growth has been hard to achieve there at times, so this is a welcome move by the Minister for Finance.

The automatic repayment by the Revenue on entitlements such as health expenses, trade union subscriptions and age-related tax credits, represents another welcome step. Some may say it should have been done long before now, but I welcome the fact that the Minister has recognised the position and acted upon it.

The Minister has also introduced a consultation period for a review on car emissions and VRT levies. This is another welcome development given that, in recent weeks, there has been much debate on emissions generally in the context of global warming. It will be particularly welcomed by many vehicle owners.

The large package of measures unveiled by the Minister for Agriculture and Food, Deputy Coughlan, including farm retirement reliefs, has been very much welcomed by farmers. She is leading the way for farmers in the 21st century. They went through a tough period for a while but the Minister has taken them out of the doldrums. Given the modern nature of our economy, not all farmers want to continue farming but those who wish to will now be able to do so. Sadly, interest in farming is dwindling but the Minister, Deputy Coughlan, is doing her utmost to ensure that farming remains a priority sector.

The package of social welfare increases, proposed by the Minister for Social and Family Affairs, Deputy Brennan, has been welcomed across the board.

I wish to refer in particular to the opportunities for North-South development and co-operation that exist under the terms of the national development plan, as unveiled by the Taoiseach and his Government. For the first time a southern Government has recognised infrastructural needs in the Six Counties. We have heard many parties talk about republicanism and being the true republicans. This move is republicanism in its truest form. It provides €1 billion for infrastructure on a cross-Border basis, which is a massive and welcome move from the Government.

Donegal is perhaps the seventh Northern county and this investment is very welcome. Given its proximity to the fourth largest city, Derry, I feel good times are ahead for Donegal under the national development plan, as well as for Derry and the Border region. However, much hinges on getting the Assembly and devolved government up and running in Northern Ireland, which is something to which I greatly look forward. For too long there has been negative politics in Northern Ireland but, thankfully, times are changing. Politicians are seeing the light and showing leadership. I hope they continue to do so because the Six Counties and the Border counties would have much to gain. It is an exciting time for us all.

I thank the Government for delivering so much under the national development plan, which has created many opportunities. I have no doubt that if the institutions in the North are up and running, the Government will be prepared to negotiate with regard to infrastructure, whether road or rail, or perhaps even air infrastructure, given that the Government will also invest up to €10 million in City of Derry Airport, which is welcome. There are many opportunities ahead for the north-west and the Border region. I look forward to having the institutions up and running and having politicians in Northern Ireland get involved with us and approach infrastructure development and other Government matters on an all-island basis, as should be the case. When that happens, this country will be much the better for it.

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