Budget 2016 compliant with EU rules and allowing for improved services – Coghlan

Speaking in the Seanad today (Tuesday), Government Chief Whip, Paul Coghlan welcomed the news that Budget 2016 has been found broadly compliant with the rules of the Stability and Growth Pact at a Eurogroup discussion and says that this stability is facilitating improvements in services.

“The Eurogroup has confirmed that from a European perspective Budget 2016, announced in October by the Minister for Finance, Michael Noonan, is compliant and no changes are required.

“Minister Noonan is confident that with the deficit falling well below 3% in 2015 Ireland will exit the corrective arm of the Stability and Growth Pact this year and that a balanced budget is within reach.

“As the Government works to keep the recovery going, there is no doubt that reducing the deficit below 3% is an important milestone on Ireland’s road to recovery.

“However, more people in work means not only a reduced deficit, but less tax for working people and more revenue to invest in services. Among these investment is the Christmas Bonus which will be paid to social welfare recipients in the first week of December.

“The Christmas Bonus will directly benefit 1.2 million social welfare customers and their dependents. Budget 2016 announced that pensioners, people with disabilities, carers, lone parent and people who are long-term unemployed will receive a bonus of 75% this year.

“The regulations which provide for the 75% Christmas Bonus were signed yesterday.

“Budget 2016 will ensure that more people and families feel the benefits of a recovering economy in their own lives. This is a sensible and a stable budget that will keep the recovery going and allow for improved services.”