The Government said it will create 50,000 new jobs next year as a result of increased funding and tax changes.

Minister for Enterprise and Jobs Richard Bruton said his department's capital spend will increase to €500 million.

Investment through Enterprise Ireland, the IDA and Local Employment Offices will create 50,000 direct and knock-on jobs, he said.

Speaking at a Budget briefing, Mr Bruton said the changes to residency rules for corporation tax had been drawn up in consultation with his department.

He said these measures along with income tax changes will "ensure certainty and stability" and make it easier for multinational investment.

Among the other measures is the introduction of a Knowledge Development Box to encourage companies to locate intellectual property in Ireland.

There are also measures to support small and medium businesses.

Chambers Ireland said the opportunity to do more to help SMEs create jobs has been missed.

Chief executive Ian Talbot said there was little in the Budget to encourage most job creating entrepreneurs.

Minister for Finance Michael Noonan announced a number of measures aimed at SMEs including and improvement in the Foreign Earnings Deduction to help the sector grow businesses abroad.

An integrated export finance strategy is expected to be rolled out next year and the Seed Capital scheme will be re-launched in the coming months.

However, Mr Talbot said the sector anticipated more measures than were delivered and that capital taxes remain too high.

Ibec said the Budget was for both job seekers and job creators and would add momentum to the recovery.

CEO Danny McCoy said new incentives to encourage private investment and an expanded capital programme will pay off in terms of jobs and infrastructure.

He also welcomed the end to the pension levy.

ISME described Budget 2015 as "uninspiring" and criticised the Government for not changing the taxation system, which it said discriminates against the self-employed in taxing them at a higher rate.

CEO Mark Fielding said: "Once again the Finance Minister has chosen to continue the blatant discrimination against self-employed and proprietary directors".

But the association noted that the tax burden on workers has been eased, which should help businesses manage wage demands.