Oireachtas Joint and Select Committees
Tuesday, 15 July 2025
Committee on Budgetary Oversight
Quarterly Economic Commentary: Economic and Social Research Institute
2:00 am
Richard O'Donoghue (Limerick County, Independent Ireland Party) | Oireachtas source
Exactly. The turnover for businesses is up at the moment but when it comes to their profits that are being taxed, their profits are down. I refer to the trajectory of those taxes at the moment. I am in business and have seen the projections in recent years. My turnover is up but my profits are down because of different changes, year on year. You could be in a fixed price contract and then there are two or three changes with inflation and you are caught. There are small things that can be put in place to allow for inflation once it goes over 5% but, overall, turnover is up and profits are down. How long can that be sustained before the viability of businesses becomes a major problem?
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