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The Minister for Finance, Michael McGrath, and the Minister for Public Expenditure and Reform, Paschal Donohoe, presented the fourth Budget of the coalition Government on Tuesday. This Budget was framed against a backdrop of the ongoing war in the Ukraine, concerns about persistent inflation and the perceived windfall nature of corporation tax receipts.

The Minister for Finance Paschal Donohoe presented his fourth Budget on Tuesday. As was well signalled, this Budget was framed against the backdrop of a potential no deal Brexit. Given the current reality of climate change, unsurprisingly climate related initiatives have featured prominently within the measures announced. The details announced also include certain tax increases, limited changes to personal tax, together with targeted measures for SMEs.

The Minister for Finance Paschal Donohoe presented his third Budget on Tuesday against the backdrop of continuing improved economic performance. Budget 2019 sees the distribution of the benefits of the improving economic conditions, mostly in the form of increased Government spending. Some of the key expenditure areas highlighted by the Minister included social and affordable housing, health and childcare, education, Brexit and climate change. On the tax front, there was a mixture of tax increases and modest tax reductions.

Throughout the years there have been many so called “safe investments”. However, forestry seems to have been overlooked by many until now.

Throughout the years there have been many so called “safe investments”. However, forestry seems to have been overlooked by many until now.

In his budget day speech, Minister Michael Noonan recognised the significant role played by the farming and agri-food sector in Ireland’s economic recovery. This important sector employs approximately 169,000 people across the country and its produce is one of Ireland’s top 10 exported commodities.   

arguably that prior Budgets have focused on tax measures to attract Foreign Direct Investment and that supportive tax measures for small businesses and entrepreneurs have received less attention. With the advent of improved technology, the option for Irish entrepreneurs to move their base outside of our shores is now a live one as many of them can easily conduct their business across borders. Therefore the need to encourage new entrepreneurs and support existing entrepreneurs is vital in ensuring the medium to long term health of the Irish economy.

Following Ireland’s exit from the EU/IMF recovery programme and in the context of projected GDP growth of 4.7 per cent for 2014 and 3.9 per cent for 2015, Ministers Noonan and Howlin announced their budgetary measures for 2015 which have been set out below. More detail will be included in the Finance Bill to be published later this month.

These are the main provisions that will affect you.

The only meaningful economic relief that can be given to squeezed lower and middle income earners is to cut the “very unfair tax” Universal Social Charge.