Dundalk Chamber of Commerce held their annual Budget Breakfast in the Crowne Plaza Hotel, Dundalk. Sponsored by Paypal, the event was a sell out with just over 200 in attendance. Attendees from financial, professional and the wider business community came out early to hear speaker Enda Jordan, Tax Director with Ernst & Young unravel the complexities of this year’s budget.
Paddy Malone PRO of Dundalk Chamber commented that “The Chamber welcomes the general features of the budget and in particular the retention of the 9% VAT rate. We also note the favourable changes in CAT, (Gift and Inheritance); CGT (Capital Gains) and farming tax. The changes in capital allowances are also to be welcomed. However our budget submission had asked for targeted relief to the border regions, particularly BREXIT. For 16 years we have asked that Dundalk be included in the inner city tax incentives and despite our deprivation ranking we are STILL not included.
BREXIT is the greatest threat that Ireland has faced in decades. The border region is even more exposed in this area and we had asked that Central Government would support the county councils to reduce rates.
Paddy also reiterated that we also would have liked to have seen a Minister given special responsibility for BREXIT. We are glad to see that the Sugar Tax will be implemented along with UK plans rather than a go alone that would have led to smuggling”
President of Dundalk Chamber Michael Gaynor also asked all attendees to consider buying the new “Shop Local Gift Vouchers” if they are considering giving Christmas bonus or other one off payment. There is no better cost effective way of putting up to €500 in an employee’s hand, with no PAYE, USC or PRSI cost. The Chamber is meeting ALL administration costs and as a result a €100 voucher costs the employer €100 and the retailer gets €100 back from the Chamber. This was endorsed by Enda Jordan.
The voucher which can be spent in Gift shops, Butchers, Wine, hairdressers, beauticians, car parts, gyms, clothes shops, toy shops, video game shops restaurants, travel agents and much more… He would also encourage members of the public to buy them as they are the ideal Christmas, wedding or Birthday gift.
This scheme means cash will be spent locally assisting Dundalk businesses and thereby increasing employment. This is a win win deal.