It’s the first big package of relief to come out of the 2016-17 fiscal year, which began on September 30, 2018.
Its aim is to boost spending on the fishing industry, while reducing spending on a number of other government services.
The first package is the fishing care package, which will see spending on social housing for fishers rise by €15 million ($20.4 million) and increase the income tax allowance for those with incomes up to €90,000 by €6,000.
It will also boost funding for fishing businesses, including a €3 million bonus for those that earn more than €100,000 annually.
Fishing care will also increase funding for those who are at risk of being left with a pensioner or widow after their fishing company is liquidated.
There is also an increase to the fishing subsidy, which currently stands at €7.70 ($8.11) per hectare, which can be increased to €8.90 ($9.18) per ha.
More money for small businesses and farmersThe next package will increase funding to small businesses to €4.50 ($5.75) per capita, and farmers to €1.80 ($2.34) per acre.
However, the package will not affect the existing €4 billion a year in payments made to fishers, and the Government says it will not increase payments to other industries, including forestry and agriculture.
“We have to keep up the pressure on the industry and the farmers to continue to grow the industry,” Agriculture Minister Simon Coveney said.
“That is what we have been doing.
This is a very difficult time for them and for the industry, so it is very important that we keep pushing the farmers and the fishermen to continue and improve their business.”
The next budget is due on October 2.