Fianna Fáil has launched its general election manifesto for the 2016 general election.  An Ireland for All is not likely to make the bestseller list as it runs to 128 pages.

In the SME arena, the following pledges are included in the manifesto:

• Remove the tax anomaly for the self-employed over the course of the next government to ensure the self-employed pay the same tax on the same wage. The Earned Income credit would be increased by 300% to €1,650 to bring it in line with PAYE earned income credits. The full year cost of this is €123m.

• Explore new mechanisms to allow self-employed people to make full Class A equivalent PRSI contributions in order to qualify for Jobseekers Benefit and Invalidity Benefit.

• Introduce a €2,500 Business Advice Voucher scheme, open to 5,000 entrepreneurs in the startup stage and early growth phase, who require finance to support their enterprise, grow and scale up. The total cost of this annually would be €12.5m

In Association with

• Introduce a new PRSI relief system that reflects the increase in the headcount of a business encouraging further expansion, innovation and employment. FF proposes to eliminate PRSI contributions for employers who take on long term unemployed young people aged below 29.

• Establish new financial supports for young entrepreneurs (no details).

• Establish a Disadvantaged Entrepreneur Startup Assistance Fund (DESAF). DESAF would support aspiring young business entrepreneurs by providing coaching, training and mentoring. This programme would make available seed finance and early stage enterprise capital for young people starting their own business. Young people aged 18–25 years with a viable business plan would be eligible for this programme. An annual allocation of €10m would be made to this fund.

•  Set up an Entrepreneur Training and Mentoring Programme (ETMP). The aim would be to increase the number of entrepreneurs in Ireland as well as increase the sustainability of existing new enterprises. First-time young entrepreneurs aged over 18 years of age following completion of second level education would be eligible for ETMP. The programme would provide training and counselling for persons interested in a self-employment career path. Entry into the programme would be permitted to anyone who owns their own business, regardless of how long it has been established.

Other FF Manifesto Highlights

•   Eliminate the USC for low and middle income earners by abolishing the 1%, 3% and 5.5% bands and increasing the 8% band threshold to income above €80,000.

•  Abolish Irish Water and end water charges.

•  Reduce the rate of DIRT from 41% to 38%.

•  Legislate to prevent councils from implementing increases in the overall property tax take in their local area.

•  Progressive tax credit worth €2,000 for average income households to help them deal with childcare costs.

•  Increase the state pension by €30 to €262 a week over five years at a cumulative annual cost of €927m.

•  Increase working age benefits with a €10 increase in all working age payments from €188 to €198 a week at a cost of €436m.

• First time home buyers saving scheme. This would involve a 25% top up on individual’s special deposit savings account, up to a maximum of  €5,000. Savers would be permitted to lodge €2,000 initially into their account and can exercise one additional €2,000 lodgement every year subject to the €5,000 top up cap. Monthly savings are capped at €400, which combined with the €2,000 lodgement is a maximum first year cost of €1,700 per account. The exchequer cost based on 16,500 annual accounts would be €28m per annum. This would increase to €56m in Year 2 and €84m in Year 3. In order to draw down the top up a home must be purchased within 18 months of the cap being reached.

•  Reduce the Drug Payment scheme threshold by €44 from €144 to €100 at a cost of €44m a year.

•  Expand medical card scheme to include all children in receipt of the Domiciliary Care Allowance. This and other measures to€57m to cost of the €2 billion per annum scheme.

•  Introduce a €10 cost of disability top-up payment across the Disability Allowance, Carer’s Allowance, Blind Pension and Invalidity Pension. Cost:  €123m annually.

•  Reform the Commission for Energy regulation to help drive down prices.

•  Commission a full economic review of wind energy, its impact on energy prices and its long term sustainability in supplying the Irish national grid.

PIC: Susan Kennedy, Lensmen Photography