County Kildare Chamber welcome Budget 2021 as a stepping stone towards economic recovery
Budget 2021 is the largest Budget in the history of the state and makes significant progress in addressing many of the needs of the most exposed members of the business community.
Speaking this afternoon, CEO of County Kildare Chamber Allan Shine said:
“Whilst we understand that this budget is delivered under huge financial constraints, the Government has delivered for SME’s as the creation of a €3.4 billion fund to address impacts of both Covid19 and Brexit is very welcomed and will enable businesses to look forward to 2021 with some hope. The commitment by Government to extend wage supports and provide funding for businesses who are forced to close is the right approach. The combination of the new reduced 9% VAT rate for the hospitality sector, extension of the wage support scheme throughout next year as needed, and the introduction of the COVID Restrictions Support Scheme is an appropriate targeted response which will support businesses into 2021.
We are disappointed that the Government today did not extend the commercial rate waiver into 2021. Businesses require certainty and we need to budget for 2021. Commercial rates is a financial burden for many. 2021 will be a challenging year for businesses and a further extension on the rate waiver will be required into the new year.
In a Budget like we face this year, we appreciate the challenge facing Government in delivering on every ask of the business community. However, there are missed opportunities in this Budget. Government should have done significantly more to invest in the affordability of childcare and to support entrepreneurs through reform of CGT and other entrepreneurial reliefs.
The goal of Government in this Budget was to give “hope and confidence”. For this hope and confidence to be delivered, there must be commitment as well, and a strategy to ensure that the places we live and work are supported to recover.
Finally, while welcoming the commitments made, clear processes to deliver the funding allocated from Central Government to Local Government and businesses must be put in place as a priority.”