Job Creation Bill

Noonan Announces Plan for ‘Jobs Creation Bill’ in 1st 100 Days if FG Elected to Govt

At the launch of the YFG Youth Manifesto, ‘Let’s Get Young Ireland Working’, Fine Gael’s Finance Spokesman, Michael Noonan announced details of his Party’s plans to hold a ‘Jobs Creation Bill’ within 100 days if elected to office on the 25th of February.

“If we get elected to Government on February 25th, we want to start implementing the jobs plan element of our 5 Point Plan straight away.

“The primary focus of the ‘Jobs Creation Bill’ will be to stimulate growth, protect jobs and create new sustainable jobs in the economy. We would plan that the ‘Jobs Creation Bill’ (JCB) will have passed all stages by July 1st.

“The main components (see Appendix 1 for more detail and costings) of the JCB will include;

• A cut in the 13.5% rate of VAT to 12%;
• Halving the lower 8.5% rate of PRSI;
• Exempting from VAT service companies that export more than 90% of their output. At present this just applies to manufacturing companies.
• Abolition of the Travel Tax;
• Re-allocation of the remaining National Pension Reserve;
• 5,000 National Graduate Internship Places.

“These make up the first stage of the policies needed to support recovery in the jobs market. The ESRI projects that, with the right policies, the Irish economy has the capacity to add 100,000 additional jobs by 2015. Fine Gael’s 5 Point Plan is the only coherent strategy to deliver on this potential.

“The total cost of these initial measures will be €338 million in 2011. In order to finance these additional job-creation measures while respecting the deficit targets agreed with the EU and IMF, we will bring forward the 0.5% levy on pension funds agreed with the pensions industry as a fairer alternative to the halving of income tax relief on new pension contributions being proposed by Fianna Fáil.

“With these measures, implemented within 100 days if elected to office, Fine Gael can provide real hope to a younger generation who have seen their plans and aspirations devastated by a collapsing economy. Fine Gael has the plan and the people to start creating a new hope for a new generation of Irish workers. If we receive the support of the public on the 25th of February our policies and plans will start impacting on the problem by the start of July.”