Peadar Tóibín (Meath West, Sinn Fein) | Oireachtas source

With regard to a reduced VAT rate for housing repair, my party has a proposal on green energy funds for the development of retrofitting in housing. Has Chambers Ireland calculated the cost benefit of its proposed reduced VAT rate for housing repair? A five year period has been proposed for offsetting corporation tax against other taxes for start-ups. This is a long time for start-ups, in that after the third year sustainability issues come into question. How would this work in practice? Would all losses over the five years be used to write off all forms of PRSI, VAT and corporation tax? I understand the idea that a reduction in capital gains tax would allow for investment in the business, which would be better for the business. Would it not be more efficient to provide a tax break against capital gains taxes on money invested into the business? This would mean it would not be a case of profit-taking and there would be close alignment of investment in the business with reductions in capital gains.

We have been speaking with Chambers Ireland about rates in town centres and we believe there is a necessity for a progressive rates base which reflects the profitability of particular businesses. The problem with double rent reductions is that the Government would be subsidising landlords directly. What is the view of Chambers Ireland on the possibility of the introduction of legislation or constitutional reform with regard to upward only rents? It is a significant issue. It does not affect a broad section of businesses in relative terms but it is very significant for the businesses which are affected. Would constitutional reform be useful?

I could not agree more on the "Ireland rate of return" element. There needs to be a value for money basis on how the wider local economy is affected. In the North it was very significant that tenders were broken up into small bite sized chunks so small and local businesses could start to consume them.

With regard to a tax incentive policy and private sector investment, the issues of demand for credit and bank lending are core and should come before tax credit. I have no problem with nearshoring. The 2.5% for research and development is a good idea. Incentives with regard to research and development often do not reach small businesses and this needs to happen. Smaller businesses sometimes have problems with matched funding. Does Chambers Ireland have proposals on how smaller businesses could better access matched funding? I also agree with consolidating human resources legislation as long as low-paid employees are protected.