Michael Mullins (Fine Gael) | Oireachtas source

I also welcome the Minister of State. I stated earlier that the atmosphere around the Houses today has been much calmer than in previous years. This is due to the fact that the Government has gradually and slowly brought the country back from the brink. Today's budget builds on the positivity we have seen in the past year, during which 34,000 new jobs have been created. The public finances are on target and there is economic growth for the first time in several years. As the Minister for Finance stated in the Dáil, we are on the cusp of exiting the bailout, regaining our economic sovereignty and returning to the markets. However, as previous speakers noted, we have a long way to go before we reach a position where our expenditure will equal our income on an ongoing basis.

The budget is designed to create growth in the economy and to get people back to work. I welcome the introduction of a tax package of €500 million and of 25 new measures to support entrepreneurs and SMEs. One of the headline items in the budget relates to the fact that the VAT rate for the tourism and hospitality sector will remain at 9%. The Minister's move to reduce the rate to this level last year gave rise to the creation of in the region of 15,000 jobs. There is a real commitment on the part of those in the tourism and hospitality sector to acknowledge the fact that the rate will remain at 9%. In that context, we can build on the work achieved as part of The Gathering and other initiatives during the past year. I welcome the investment of €8 million in the Wild Atlantic Way tourism route. I also welcome the abolition of the 10% travel tax. It is probably no coincidence that almost immediately after the announcement of the latter, Ryanair indicated it will be making available 13,000 new seats on aircraft flying on routes between Knock international airport and London during the remainder of this year and in early 2014. I hope this will lead to many more English visitors coming to Ireland during the winter months.