“A loan scheme of up to €300 million will be available at competitive interest rates to SMEs, including our food businesses, given their unique exposure to the UK market, to help them with their short-term working capital needs.”

“We need more detail on this proposed scheme, however any affordable capital to help businesses meet the challenges of Brexit is welcome. It must be seen in context. Based on the recently leaked Revenue report on Brexit, 91,000 companies will be affected. This fund of €300m would provide less than €3,300 per company. This will not be enough.”

“We need to be more ambitious. It appears to me that the Government has ‘stage fright’ in relation to Brexit and are waiting for the EU to take the lead. We are part of the EU, and we need to be centre stage in relation to solving our Brexit challenges rather than waiting for others to solve them.”

“Our Government needs to make the case strongly in Europe to represent Ireland’s businesses that are exposed to Brexit. No other country in the EU is exposed to the same scale as Ireland is. We need to provide funding not just for short term needs, but on terms that allows firms access to affordable capital for the years ahead, to assist in maintain their UK markets and develop new markets.”

“Kildare food based companies, who have developed a strong brand and large markets, particularly in the UK, need to be supported and I will continue to ensure that their concerns are highlighted.”

“For example, the interest rate on all new mortgages, fixed and variable, stood at 3.3% in June compared to a euro area rate of 1.83%. This means that a borrower with a mortgage of €200,000 is paying €250 per month more than they would be paying in the average Euro area country. That amounts to €3000 per year. There has yet to be a credible explanation for such a dramatic difference in the rates charges,” stated Deputy O’Rourke.

“In May 2016, a Fianna Fáil Bill designed to give the Central Bank powers to tackle excessive variable mortgage rates passed second stage in the Dáil. The progress of the Bill through the legislative process has been tortuous and painfully slow. Despite not opposing the Bill at second stage, it is abundantly clear the Government does not want the Bill to become law.”

“As I have said in the Dáil on a number of occasions, we must focus on reducing the cost of living as well as reducing the burden of taxation. There is little point in reducing tax rates, if the banks are continuing to charge excessively high variable mortgage rates or insurance companies are continuing to increase their rates, take back a multiple of any reduction in taxation.”

“However, key elements of our Bill on mortgage rates will proceed during this Dail term. This will be of help in relation to securing a fairer mortgage rate regime in the Irish market,” concluded Deputy O’Rourke.

“I am delighted that once again we have secured a €5 per week increase in the State Pension. This is the second year in a row that Fianna Fáil has secured such an increased. The €5 per week welfare payment increases are a core priority for Fianna Fáil.”

“Increased resources for public services are also welcome, with increased number of teachers and special needs teachers, which I have campaigned for. The reduction of the USC for low income families and the widening of the tax bands for low income families are also welcome; we have succeeded in moving the debate from reducing the higher tax rate, a Fine Gael led proposal, to focusing on low income families. ”

”The Telephone Allowance for the elderly is to be brought back to return October 2018. I called for this in recent weeks and I am delighted that it is included in the budget, but it is only a small step in the right direction. However, the funds allocated for the Taoiseach’s Strategic Communications Unit, amounting to €5m, would in my opinion be better placed in further supports for the elderly.”

“We need to focus more on the cost of living expenses. Rising cost of insurances, increased home property taxes and the inflation of energy costs are the hidden growing costs which have not been the Government’s priority. I have said many times, that there is little point in reducing taxes, if a multiple of the reduction is taken back in the increase in the cost of living.”

“Last year was the first progressive budget in 6 years; a fact admitted by the Taoiseach himself. Fianna Fail’s influence over budgetary policy, through its supply and confidence agreement, is greater than the Labour party’s influence while they were in Government. Our spokesperson on Finance, Michael McGrath TD, with whom I work closely, has been determined to ensure that fairness is put at the heart of the budget.” concluded Deputy O’Rourke.