Budget aims to increase cash flow for small firms

The Irish government has unveiled its latest Budget and will attempt to help smaller firms with greater access to finance.

Finance Minister Michael Noonan revealed that the first signs of economic improvement have been seen, but that there will need to be tax increases to help better figures further.

However, he did reveal plans for greater finance including an increase on the VAT cash receipts basis accounting threshold from €1 million to €1.25 million.

The nation's finances have been getting better over the last few months, according to Mr Noonan.

"There are manifest signs that the country is emerging from the worst of the crisis and that the efforts of the Irish people, despite the hardship, are leading to success," he noted.

Experts had been expecting a tough Budget, but the measures introduced to help small businesses are likely to be welcomed, with economic and job market growth among the targets.

Posted by Thomas Fletcher

Last updated: 6th December 2012