John Comer: Tax relief on deposits a war chest against volatility risks

The October Budget is looming, and speculation is turning naturally to the intentions of Ministers Noonan and Donohoe.

The fact is that when growth rates are being revised on practically a weekly basis with knock-on effects for Government revenue, it becomes extremely challenging to put forward spending plans or tax changes that, by their nature, must rest on a fixed or at least a constant flow of revenue.

As the organisation most associated with the state’s 18,000-odd dairy farmers who are only now beginning to see a market recovery after nearly 16 months of receiving a milk price of up to six cents per litre below the costs of production, ICMSA is perfectly aware of challenges around constant or climbing bills and diminishing — or disappearing — income.