Oireachtas Joint and Select Committees

Tuesday, 15 July 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Pre-Budget Submissions: Discussion

4:00 pm

Mr. Padraig Cribben:

That would not redress the balance on individual products. It may affect the overall profitability or take from those companies. There are two keys to recovery. One is to increase consumer confidence. The other is that those who are not earning are given the opportunity to earn. We have to find the balance between making sure those large, medium and small companies have the opportunity to create those jobs which will get those people back into employment. The Deputy is correct in his analysis that it is almost a virtuous circle. What we need, essentially, is more people with more money in their pockets. How we get there through taxation incentives is always a matter for debate. The key to developing industry and employment is small and medium-sized enterprises. That is not to denigrate foreign direct investment but we need a balance between both. Whether it is a small engineering or software company, we must ensure they have the opportunity to flourish alongside the larger multinationals. How this is achieved is for the collective wisdom around this House. It is to get people with money that they can spend in retail and in other areas.