Business Environment in Waterford Improving – Minister Coffey

Speaking ahead of the Chamber of Commerce Dinner in Waterford on Friday in The Tower Hotel Fine Gael Waterford Minister Paudie Coffey said that;

“After many years of a difficult business environment in Waterford; it is now improving with jobs being created, tax credits for self-employed being introduced and taxes on work being reduced.

“The Chamber of Commerce throughout the economic downturn continued with positive engagement with all relevant stakeholders and helped to ensure that the business community survived the worst of the economic crash.  Thankfully we are now exiting the economic emergency that gripped the country over the last number of years.

“In the last number of years there have been a series of positive jobs announcements and investments across Waterford City and County.  These include investments in capital infrastructure like the flood defences, new fire station, dredging of Dunmore East Harbour, investment in school buildings and investments to come like the Palliative Care Unit, St Patricks Community Hospital, The new Waterford City Courthouse; the upgrading of the John’s Street area of the City and the regeneration of the North Quays; which has been included in the Government’s Capital plan out to 2021.

“Ireland’s economy grew by 5.2% in 2014 which made it the fastest growing economy in Europe.  Economic growth in the first quarter of 2015 was 6.5% these improvements have led to investments and job creation like West Pharma, NearForm, Agora Inc and Bausch and Lomb for example.

“The improved employment situation has meant that the government has been able to cut taxes on work, with now 700,000 people removed from paying Fianna Fail’s Universal Social Charge and from next year there will be a self-employed tax credit introduced to the value of €550.

Minister Coffey concluded by saying; “Fine Gael have committed to abolishing the Universal Social Charge by 2021 if we are returned to office early next Spring.  Fine Gael in government are also committed to ensuring full-employment by 2018 and equalising the self-employed tax credit to the same as other PAYE workers over the next 2 years.”