Budget 2017 helps hard pressed working families and farmers in Westmeath-Burke

Fine Gael TD for Longford Westmeath Peter Burke says Fine Gael has ensured that Budget 2017 will help hard pressed working families and farmers, with measures designed to improve people’s lives and alleviate pressure on families around the county.

“Fine Gael is using Budget 2017 to protect the progress we have made over the last six years, especially in the context of Brexit.

"Thankfully, we are in a position to use some of the resources from our growing economy to help the farming community and hard pressed working families in Westmeath.

“One particular highlight of Budget 2017 and one close to my heart is the significant investment in childcare, designed to make it more affordable for working families.

"Parents of a child between 6 and 36 months in full-time formal childcare will receive support to the value of €960 per year. There will also be a targeted subsidy scheme for low to middle income parents with children between 6 months and 15 years.

"This announcement is in addition to the steps already taken to help parents get back to work. Last month we rolled out a second free year of the Early Childhood Care and Education Scheme and introduced two weeks of paternity leave, which I know first-hand are of real use to families in the months after having their children.

“In addition to these specific measures designed to help working families in Westmeath, we are continuing the process started in the last few Budgets of reducing high levels of taxation on modest incomes generally.

“Each of the lower three USC rates are being reduced by 0.5%. Reducing the USC will ease the financial pressure on lower and middle income earners, sharing with them some of the benefits of our return to economic growth.

"In relation to the self-employed, there has been a €400 increase in the Earned Income Tax Credit will bring the total exemption to €950, which is a further step along the road to equalising the tax treatment of self-employed workers with PAYE earners.

"This will help self-employed people and small business owners to create more jobs here in Mullingar, in Athlone and in smaller urban centres around the county.

"I will be pushing for total tax equality in next year’s budget. Also relevant is the first time buyers scheme and the €5 increase in all payments come March.

Also of vital importance to this community Deputy Burke says, is the support that is being given to farmers in the region, who are enduring an incredibly difficult period.

“I welcome a number of progressive changes aimed to alleviate the pressure farming incomes have come under.

"Allowing a farmer facing an exceptionally poor year to 'step out' of income averaging and, instead, pay only the tax due on a current year basis with any deferred tax liability becoming payable over subsequent year is a measure which I think will be especially helpful- and this facility is available immediately.

“Other measures I especially welcome is increasing the flat-rate addition for farmers not registered for VAT from 5.2 per cent to 5.4 per cent, extending farm restructuring relief to the end of 2019 and making payments under the new raised bog restoration incentive scheme exempt from Capital Gains Tax.

"The Rural Social Scheme has been increased by 500 places and there are improvements in the means testing arrangements for lower-income farmers on Farm Assist, including farm families with children.

“To further support farmers, the minister for agriculture, is developing a loan fund that will be low cost (below 3 per cent per annum) and highly flexible.

"These loans will enable farmers to improve the management of their cash flow and reduce the cost of their short term borrowings.

"Cashflow at this time is a huge issue on farms here in the midlands and in Westmeath and I will be urging farmers to take up this fund when it is introduced.

“Fine Gael is using the benefits of a strong economy to improve people’s lives. This budget delivers for farmers and for families and is another important step forward in supporting rural Ireland.

"We cannot achieve all we want to in one year, but we are using the benefits of a strong economy to improve people’s lives and I believe we will be able to see improvements in peoples’ lives in Westmeath based on the measures introduced in this budget”.