Limerick Chamber has welcomed the pro-business measures announced as part of Budget 2014.
Maria Kelly, Limerick Chamber Chief Executive, said “This budget has introduced many pro-business and pro-employment measures where the Government has demonstrated that recovery will be achieved through job creation and support for business.”
“Measures that were contained in Limerick Chambers Pre-Budget submission that have been enacted on include:
- the Home Renovation Tax Incentive Scheme to support the construction sector;
- the maintenance of the 9% VAT rate which supports the hospitality sector;
- the abolition of the travel tax which will have a positive direct impact on tourism;
- cash flows of SMEs will be assisted with the increase in the cash receipts threshold for VAT from €1.25m to €2m;
- the introduction of a Capital Gains Tax Relief for certain entrepreneurs which will encourage re-investment into business and job creation;
- the removal of the higher income earners restrictions on the Employment Investment and Incentive Scheme should ensure that more firms use this worthwhile initiative.”
“While there is plenty to be positive about, we have concerns about the 100% increase in sick pay costs for employers which, coming on top of the abolition of the redundancy rebate scheme in previous budgets, could have a negative impact and become a barrier to employment. We will have to assess how this will impact our members, in particular SMEs” she concluded.
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