Cham­ber chair­man says pub­lic will feel knock-on ef­fects

Bray People - - About Greystones -

PAS­CAL BURKE, Chair­man of The Wick­low and District Cham­ber of Com­merce, be­lieves the Bud­get will do lit­tle to re­store con­sumer con­fi­dence.

While ac­knowl­edg­ing that Min­is­ter Leni­han had very lim­ited op­tions, he feels there will be knock on ef­fects felt by the pub­lic due to the in­crease in the higher rate of VAT.

‘ There will be re­duced in­come in most house­holds as a re­sult of the in­tro­duc­tion of the 1 per cent in­come levy. The burn­ing is­sue of Pub­lic Ser­vice re­form was once again ig­nored, and the Min­is­ter def­i­nitely lost an op­por­tu­nity to start this very much over­due process.’

How­ever, it wasn’t en­tirely bad news to re­port. ‘ We wel­come the con­tin­ued reaf­fir­ma­tion of the 12.5 per cent Cor­po­ra­tion Tax Rate, which is crit­i­cal to the fu­ture re­ten­tion of for­eign di­rect in­vest­ment op­por­tu­ni­ties.

‘We also wel­come the ex­pan­sion of the R&D Tax Cred­its, which will help to in­crease in­vest­ment in the key area.’

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