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Government initiatives to boost the economy are working, according to Fine Gael TD for Limerick, Patrick O’Donovan. Photo: iStock

Fine Gael TD for Limerick, Patrick O'Donovan has welcomed a report from the Restaurants Association of Ireland (RAI), which shows an increase of 1,428 additional jobs in the hospitality sector in Limerick, which the Association have said were created as a direct result of the Government's decision to reduce the VAT rate to 9% in 2011.

The report, which was published by the RAI, states that 34,052 additional jobs have been created nationally as a result of the VAT reduction, giving a social welfare saving of €699 million to the State.

Mr O'Donovan said that the report proves that the decision by the Government to reduce the VAT rate has worked and that much needed jobs have been created across the country in the hospitality sector. “Here in Limerick the RAI estimate that the increase in employment of 1,428 is worth €29.3 million in social welfare savings, with a further €4.66 million in tax receipts from employment," he said.

According to Mr O’Donovan, the decision to reduce the rate, an initiative by Limerick Minister Michael Noonan, was working well with other Government decisions, including the abolition of the travel tax and the granting of independence to Shannon Airport.

"This Government made a decision to try to increase employment in a number of sectors including tourism and agriculture. These decisions have paid off and this report proves it. Strong growth in these areas, together with strong growth in manufacturing and exports and an increased amount of consumer spending show that the recovery is taking hold.

“However we can't become complacent, unemployment is still to high, the Government have strong targets to address other areas of the economy including construction and I believe that we will see further initiatives in this year’s budget like the Home Renovation Incentive Scheme, to drive the recovery in that area,” he said.

Deputy O'Donovan reiterated the importance of having Michael Noonan at cabinet for Limerick and said that the knock-on of the Minister's influence could be seen across the county and the Mid West region and added that the Minister's interest in the issues affecting the county was of huge importance to him as a Government backbencher, seeking to advance the interests of County Limerick.

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