Michael Noonan: Big benefits on the expenditure side in budget
“We have decided the resources available will be divided on at least a two to one basis between tax reductions and increased expenditure in favour of public expenditure,” Mr Noonan said.
“There will be quite significant increases in public expenditure. There will be reductions which will apply to low pay and middle-income people.
“But the big benefits of the budget will be improvements in services with extra money for health, education, law and order on the streets, and for childcare. They are issues that the squeezed middle are very interested in. So the big benefits will be more on the expenditure side than on the tax side.”
He also restated the 12.5% corporation tax regime will be retained.
“I can pledge it [budget] won’t in any way disadvantage those promoting foreign direct investment.”
Mr Noonan was speaking to reporters in Limerick where another 134 jobs were announced by a Texas-based company.
Trusource Labs works with technology companies which specialise in the Internet of Things and providing support for companies using Apple devices.
Recruitment and training have already commenced.
Jobs Minister Mary Mitchell O’Connor said the news followed on the announcement of 694 new jobs for the Limerick region last month.
She said: “These are exactly the kind of high-quality technical jobs we seek to attract and it is a strong vote of confidence in Ireland and the Irish workforce. This is another great boost for Limerick and the region.”
Alton Martin, co-founder of Trusource Labs, said the educated workforce was one of the main factors in deciding to come to Limerick.
Martin Shanahan, chief executive IDA said the new jobs will be delivered within three years.
“As well as making a strong regional impact, it will be a valuable reference case for the IDA in attracting similar high growth technology companies,” he said.
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