Thursday 14 December 2017

Budget 2016: 'We're on track to recover all the jobs lost to the recession' - Minister Noonan

Finance Minister Michael Noonan
Finance Minister Michael Noonan

David Kearns

Nearly all the jobs lost following the recession are on course to be recovered, claims Finance Minister Michael Noonan.

Speaking during the 2016 Budget announcement, Mr Noonan said the Government is on track to recover all of the jobs lost since 2008, adding that more people would be working by the end of this decade than ever before.     

“48,000 net new jobs are forecast for next year, bringing employment past the 2 million mark for the first time ever,” he said.

“Some 130,000 more people are now in work than at the low point in 2012 and this growth in employment is spread across the vast majority of the sectors in the economy.

“My Department is forecasting growth of 4.3 pc in 2016… and we aim to ensure the benefits of a growing economy are felt inside the door of every family in the country.”

Read More: Live: Budget 2016 from the Dail

The minister said creating jobs and rewarding work is "a key driver of growth and prosperity in the economy.”

Unemployment is set to drop to 6.25 pc by 2021, he added.

Mr Noonan continued, saying that the public finances were improving, with a “broad and growing tax base providing stable funding for vital public services”.

Read More: In detail: The new measures revealed during Michael Noonan's Budget speech to the Dail

“My Department forecasts that we will balance the books in headline terms in 2018 with balance in structural terms following in 2019.”

The Minister said the top priority of the Budget was to keep recovery going with tax reliefs and better services for Irish people.

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