Budget 2014 Has Potential to Support Regional Recovery

Feedback from Chambers Ireland’s network of Chambers across the country indicates that Budget 2014 is positive news for business. This is reflected in the views of Chamber Chief Executives who garnered business sentiment at their local business breakfasts this morning.

Speaking this morning, Paul Keyes, Chief Executive of Sligo Chamber, said “A big talking point among businesses at our Budget Breakfast this morning was the Home Renovation Scheme. While on the face of it this may seem very specific to the construction sector, there will be huge knock on benefits particularly for retailers as the demand for white goods increases.”

Madeleine Quirke, Chief Executive of Wexford Chamber, said the sentiment at their Budget Breakfast was ‘positive and hopeful’. “Businesses are feeling positive not just about measures that were introduced but ones that weren’t. No rises in Income Tax, PRSI or Capital Gains Tax and improvements to the EIIS scheme are small pro business measures that are welcome,” she said.

According to Nick Donnelly, Chief Executive of Waterford Chamber, the abolition of the air tax and the maintenance of the 9% VAT rate for the hospitality sector are vital wins for the tourism sector. “Waterford relies heavily on revenue from tourism activities. An increase in the 9% VAT rate would have been a huge blow to this sector and there is no doubt it would have cost jobs. The retention of this rate along with legacy benefits from The Gathering will be a big boost for the local area.”

Seán Murphy, Chambers Ireland Deputy Chief Executive noted that “these sentiments reflect general feedback from around the Chamber Network following Budget 2014. Our members across Ireland are now looking forward with confidence to a positive Christmas period not marked by the negativity that has been the feature of the relentless pre budget speculation of recent years.”

-Ends-

For further information contact Amy Woods, Chambers Ireland on 01 400 4319, 086 6081605 or email amy.woods@www.chambers.ie .