Seanad debates

Tuesday, 1 October 2024

Budget 2025 (Finance): Statements

 

12:00 pm

Photo of Neale RichmondNeale Richmond (Dublin Rathdown, Fine Gael) | Oireachtas source

Someday, indeed. I pay particular credit to Senator Conway. He did not mention his own advocacy on the blind tax credit, in co-operation with his Seanad nominating body, Vision Ireland, formerly NCBI. I know this is of personal importance to the Senator. His continual advocacy in this House for those who are visually impaired in society does not go unnoticed. It is really important.

Senator Dolan asked how it is possible to future-proof these budgets to make sure they are not temporary. We have gone from a situation where we faced the impact of a pandemic, the like of which the world had not seen in a century, and the impact of a war on this Continent that is unlike anything since the Second World War - the Acting Chairperson, Senator Ahearn, has travelled to Ukraine a number of times – and the pressures that the impact of that war have had on every household in this country to a situation where we now have a surplus just shy of €24 billion and we are able to invest. That is what this budget is about. Yes, it is providing relief, but it is also investing in the future. The sale of shares in AIB will allow for massive infrastructural investment in our water, energy and housing. There has been general reference to the tax windfall of in the context of the €14.1 billion or so. It will be decided on in the first half of next year. Again, we will be looking at infrastructure and building out to make sure our economy is future-proofed. Top of that list is investing in education. We will see that at all levels. This year there will be funding for 6,800 craft apprenticeships. That is vital not only for building that infrastructure but also for servicing our economy and communities. There will be massive investment in third-level institutions to make sure we continue to have that level of skill talent. We are open to attracting skill talent from across the EU and beyond but equally we need to be developing it. The best thing Ireland has going for it, our best export and our biggest draw, is not our membership of the European Union, taxation rates, our English language capabilities or the fact that we are a common law jurisdiction; it is our people. This budget makes that investment in base level skills and life-long upskilling and also recognises that through progressive taxation measures that recognises businesses and individuals who are prepared to future-proof our society and economy.

I thank all the Senators for their contributions to this debate. I look forward to the passage of the budget later this evening and the various pieces of legislation in due course.

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