Budget Breakfast Briefing 2015 — Presentation

“The good news is that there isn’t much bad news” says Chamber president Ian Gavin about Budget 2015. Ian was speaking after the Budget Briefing Breakfast in the Greville Arms Hotel, Mullingar on Wednesday.

“Although the budget 2015 signals an end to austerity, it won’t noticeably increase the disposable income in people’s pockets. The optimism is returning but the retail sales over the next few months will be the real measure of a domestic recovery.

“I am hopeful that we will see year on year retail sales growth in Mullingar for 2014 and I encourage everyone to spend your money locally.”

Mr Gavin also believes that incentives designed for the hospitality sector is to be welcomed and believes that confidence in the sector and benefits will be seen quickly.

“I welcome the retention of the 9 per cent VAT rate for the hospitality sector. This proves a case that by stimulating a sector through a straightforward tax reduction, it can yield results in a relatively short space of time,” said Ian.

“The decision to have an 11% USC rate on earnings over €100k specifically for self-employed people is a further blow to our entrepreneurs who decided to risk everything to start their own business. If you take a risk and are successful you are penalised, if you take a risk and fail you are not supported.

“This could be viewed as a missed opportunity by the Government to support small businesses and the self-employed, whose entrepreneurial skills are one of the reasons the economy is starting to recover, it would have been great to see measures in the budget to develop a tax system designed to support the SME owner.

“The pressure and challenges faced by the SME sector is so great. It is here that jobs are being created and it is here that money is circulating in local economies and to ask for more tax than a PAYE counterpart is unfair, especially in light of the fact that if their business fails they have none of the supports available to them that the PAYE worker has.”

Mr Gavin praised the members of Mullingar Chamber as a group of businesses that have weathered the challenges of austerity and are prepared for 2015. He also praised the many businesses based in the area that export:

“Demand is growing for Irish made products, so anything that supports our members in their drive to export to a global market is good news. It is important for all businesses to have a good line of credit to enable their business. “I think that the participation of Permanent TSB, and the possibility of Ulster Bank joining them, in the Credit Review Office process is welcome.

Guests at this year’s Chamber Breakfast Budget briefing were in the main, business people who looking to see what budget changes would benefit them, in contrast to the last number of years where people were looking to see where they would be worse off in the main.

“We have to say thanks to Stephens Cooke & Associates for an excellent Budget Briefing presentation,” added Mr Gavin

A copy of the Budget Breakfast Briefing Presentation given by Stephens Cooke and Associates can be downloaded here Stephens Cooke Budget Briefing 2015 — Presentation  (or just click on the image below).

 

stephenscook_budgetpresentation

 

 

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