Pat Casey (Fianna Fail) | Oireachtas source

I welcome the Minister, Deputy Chambers. Budget 2025 is a testament to our commitment to fostering economic growth and stability. Fianna Fáil welcomes and supports this Bill which gives effect to key taxation measures in budget 2025. Through successive budgets, Fianna Fáil in government has supported individuals, families and businesses that have played an integral part in ensuring our economy is in a strong position today. The Finance Bill 2024 continues this positive trajectory by setting out the legislative provisions required to implement the range of tax measures announced in budget 2025. The Bill includes a number of tax changes intended to provide additional supports nationwide while also maintaining the long-term stability of our public finances.

One of the cornerstone elements of this Bill is the provision for income tax changes. These changes are designed to ease the financial burden on our people, ensuring that more money remains in the pockets of hard-working individuals and families. Additionally, the introduction of the participation exemption for foreign dividends aims to attract more international business, fostering a more competitive and dynamic economic environment. The Bill also addresses amendments arising out of the Gambling Regulation Bill and introduces measures related to the automatic enrolment retirement savings schemes. These initiatives are crucial for protecting our citizens and ensuring their financial security in the long term.

In the creative sector, a very strong industry in Wicklow, we see the introduction of new film measures including a tax credit for unscripted production and the uplift for small feature films. These incentives are designed to bolster our film industry, encouraging creativity and innovation while providing significant economic benefits. Furthermore, the Bill provides for changes to existing measures to support enterprise and farming individuals and households, as well as property-related measures. These include rent tax credits, the help-to-buy scheme, the vacant homes tax, the residential zoned land tax, benefit in kind on motor vehicles and the research and development tax credit. Each of these measures is perfectly crafted to address specific needs in our economy, ensuring that we continue to support growth and development across all sectors.

In conclusion, budget 2025 is a comprehensive plan that reflects our commitment to economic stability and growth. By implementing these tax measures, we are not only supporting our current economic strength but also laying the groundwork for a prosperous future.Fianna Fáil remains committed to working tirelessly for the betterment of our nation and ensuring that every citizen can share the benefits of a thriving economy.