The Department of Finance released the following statement:

The Minister for Finance Brian Lenihan today published the Finance Bill 2010 which gives effect to the taxation measures announced in last December’s Budget.

The Minister said: “This Bill strikes a balance between providing targeted support to enterprise to assist in our economic recovery and enhancing the ability of the Revenue Commissioners to carry out their work. It also ensures that all sectors play their part in stabilising the public finances and thereby restoring domestic and international confidence in our economy.”

In the last Budget, the Government chose to reduce expenditure rather than increase taxes, on the basis that tackling the cost of running the State is the most effective strategy for returning the economy to growth.

“By addressing our cost base in the successive Budgets over the past 18 months, we have improved our competitive position and gained market share. The pro-enterprise taxation measures in this Bill will build on our existing strengths and will put us in a position to take advantage of the recovery that my Department and the Central Bank are forecasting for the end of this year.”

“These measures, together with our budgetary strategy, will create and protect jobs by supporting export led growth in services and goods.”

The Bill, which must be e