Lisa Chambers (Fianna Fail) | Oireachtas source

I welcome the Minister of State, Deputy Carroll MacNeill, to the House. Today was a particularly proud day for me, as a member of the Fianna Fáil Party, watching our Minister for Finance, Deputy Michael McGrath, deliver the budget on behalf of the Government and, of course, on behalf of Fianna Fáil. What struck me today about the budget was that there was something for everybody. Sometimes people suggest that is a bad thing. It was a good thing to show that not only had we a significant social welfare package of €1.1 billion and a significant cost-of-living package of more than €2 billion but we also managed to reduce taxation, and have a number of cost-of-living measures that will address the challenges that face households today.

What I am particularly proud of, and want to spend a little bit of time discussing, are the two funds that have been set up to prepare, plan and pay for the future spending needs of our country that will occur in the next ten, 15 or 20 years down the line. These are the future Ireland fund and the infrastructure, climate and nature fund. I commend the Government and the Ministers, Deputies McGrath and Donohoe, on putting together these two funds, which will be put on a statutory footing, meaning that any future Government that will be in charge of public finances will have to bring legislation through the Dáil in order to dip into those funds, and will have to explain why it needs to dip into a fund at that point. We know there are additional costs coming down the line. We have an ageing and growing population, and that will bring with it additional pressures on health, education, housing, elderly care and pensions. We know that even up to 2035, it is going to cost us between €8 billion and €10 billion just to maintain existing services.

The establishment of these two funds is not the sexy part of the budget. It will probably be forgotten by most people in the next couple of days, and it will not result in any extra money in people's pockets next year or in the lifetime of this Government, so there is no votes in it. The easy thing to do would be to spend the available moneys today and worry about the future later. Often Governments are accused, and rightly so, of not planning properly for the future. However, what this Government has done today, and will do in putting those two funds on a statutory footing, will, in ten to 20 years' time, allow us to look back to the establishment of those funds and know that the Government of today protected the children and workers of today. It will ensure that when we need it, the money is there to continue investment in infrastructure projects and capital spending, and to provide for healthcare, elderly care and pensions for the future. I am particularly proud of that element of our budget today. I also acknowledge the 25% reduction in childcare fees. There had been much speculation that would not be met and that promise would not be delivered upon, but it has. That will mean that in the course of two budgets, the Government has managed to reduce the fees for parents by 50%. The Opposition said time and time again we would not do it, but we did. Parents across the country will feel the benefits of that.

Turning to the education package, I acknowledge the work of the Minister, Deputy Foley, when we look at the extension of free schoolbooks into junior certificate cycle. We already know the impact the transformative policy of having free schoolbooks at primary level has had on families across the country, with the Society of St. Vincent de Paul reporting that it has had a 25% reduction in families coming to it for assistance with back-to-school costs. We are now extending it to second level and will, in time, make sure that every child right through the second level education scheme will have access to free schoolbooks. It is a policy that reminds me of the Donogh O’Malley era when we extended free education to second level – it is that transformative and impacts that many families. It will be a positive and proud legacy of this Government.

In the short time I have left, I acknowledge the work on housing and, in particular, the renter’s tax credit, which has gone up to €750, and the extension to parents who are paying for student accommodation and digs for their children while in college. They too will be able to claim that tax credit back to 2022, 2023 and, of course, next year as well. That will help many families with the cost of living, the cost of going back to school and supporting their children through their education right through third level.

There are many other measures and today’s budget is positive. It is fair, balanced, helps those most in need, acknowledges the challenges the Government currently faces and will face into the future and strategically plans for the future of this country and younger generations.