Chris Andrews (Dublin South East, Fianna Fail)

Only today, the Minister, Deputy Martin, announced a €60 million growth fund operated by Enterprise Ireland which will help secure new jobs in Irish firms. The fund will support investments in staff, equipment and technology in order to increase competitiveness and encourage new exports. Such supports are to be welcomed, particularly in a more competitive environment.

The Finance Bill helps SMEs by reducing the administrative burden and making doing business easier. The Bill provides for measures to assist small businesses which the Minister for Finance, Deputy Cowen, introduced in last year's budget. It includes a number of business-friendly measures such as revised preliminary tax payment arrangements for corporation tax aimed at small and start-up companies and an increase in VAT registration thresholds for small business to €37,500 in the case of services and €75,000 in the case of goods.

This Bill represents a range of business-friendly measures which will support continued growth and job creation in a climate of economic uncertainty. Within Europe, Ireland is third in a league of countries that encourage start-up businesses, which shows that Irish people embrace challenges and change, and are adaptable to change. This is why we have continued to progress so well. The Bill will support those who want to take a chance to improve their lives and the life of the community in which they live and work.

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