Paul Coghlan (Fine Gael) | Oireachtas source

The budget is all about fairness and will be broadly welcomed by all fair-minded people, as it was by Senator Darragh O'Brien in his own way. As the Minister of State noted, we must secure and enhance the recovery and abide by the fiscal rules. The budget will benefit everyone because the reductions in the universal social charge from 1.5% to 1%, from 3.5% to 3% and from 7% to 5.5% and the increase in the USC entry threshold mean we will all have more money in our pockets. Retailers, publicans, farmers and people with trades will gain. I also greatly welcome the commitment to progressively abolish the charge over the next five years.

As someone from County Kerry, I greatly welcome the retention of the 9% VAT rate on the tourism and hospitality sector. I concede the point made by the Senator Barrett that Dublin is making a case for having it removed in the sense that every Member from outside the Pale is well aware of increases in hotel rates in the capital. That is, however, a matter for another day.

I also welcome the proposal by the National Asset Management Agency to develop 20,000 houses in the next five years. These will be mainly starter homes, 90% of which will be located in the greater Dublin area, where they are needed most as a result of the serious supply problem here. The threefold increase in the Christmas bonus for hard-put recipients of social welfare payments is also welcome because people are always stretched at that time of the year and face additional impositions.

The Government promised to fix the public finances and restore growth in the economy and it has done so. It promised to make work pay and has lived up to that promise.

I also strongly welcome the removal of the pension levy, which was an unfair measure that was imposed through necessity. I am grateful it is gone.