October 2008 – Brady welcomes increased support for small business in Budget 09

Kildare North Fianna Fail T.D., Áine Brady has welcomed the support for small businesses with increased spending for science, technology and innovation programmes in Budget 2009.

"Kildare North has seen the benefits of investing in high tech businesses and in up-skilling the workforce."

"It is important that in the current economic downturn that we continue to invest in science, technology and R&D to encourage further foreign direct investment in Ireland."

"I am delighted that the Minister for Finance has increased capital funding for Science, Technology and Innovation programmes by €10.9 million."

"There will also be an extension of R&D tax credits that can be offset against a company's corporation tax liability."

"This funding will support Irish businesses in their bid to develop new products, stay competitive and secure new markets. It will also encourage existing and overseas firms to add research functions to their operations."

"Funding for small businesses is also set to increase by 9% to €34.8 million and this will be administered through the County and City Enterprise Boards."

"The tax  relief  measures  for start up businesses by way of remission in corporation  tax  and  Capital  Gains  Tax in the first 3 years for new and start-up businesses  announced by the Minister for Finance will also help to grow small business and promote an entrepreneurial culture."

"Small and medium enterprises employ over 800,000 people in Ireland so it is vital that we give them every practical support we can," concluded Deputy Brady.

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