Budget 2016: A Step in the Right Direction For Business and Consumers

Chambers Ireland yesterday (13/10/2015) welcomes Government’s commitment in Budget 2016 to support our entrepreneurs and businesses.

Commenting on Government’s Budget announcement today, Ian Talbot, Chief Executive of Chambers Ireland, said: “At long last, we have a budget that tangibly recognises that entrepreneurs and small businesses are the drivers of economic growth. This is a vitally important statement for now and for the future”.

“Two particularly welcome measures are the first steps towards putting the self-employed on an equal footing with the PAYE worker, and Government’s commitment to address the high costs of childcare. These important measures will help businesses in all regions of the country and will support our indigenous economic development.”

“The reduction of CGT from 33% to 20% will equally support investment into high-potential Irish businesses and reward our entrepreneurs and job creators. As we face the challenge of further reducing unemployment, particularly youth unemployment, this measure will support entrepreneurs to grow their business and get people into work”.

“The reduction of the marginal tax rate below 50% is a very welcome development. This will help working households and consumers, which will in turn help our businesses. We must, however, be careful not to repeat the mistakes of the past and excessively erode the tax base or set unrealistic expectations for the future. Maintaining as broad a tax base as possible will be important for the sustainable management of public finances, both now and in the future”, he concluded.