Jack Chambers (Dublin West, Fianna Fail) | Oireachtas source

To give some context, the VAT rate for hospitality in Ireland compares favourably to our nearest neighbour, as Britain and Northern Ireland maintain a 20% VAT rate for the sector. Across the whole EU, Ireland is one of 14 countries with a rate at 12% or higher for hospitality. On accommodation, Ireland is one of seven member states that have a rate at 12% or higher. The Government has provided significant support to businesses throughout a period of increasing costs. Budget 2024 contained a number of measures that will support businesses facing increased costs, including the increased cost of business, ICOB, grant, which aims to provide financial support to small and medium-sized businesses operating from a rateable premises, at a cost of €257 million. Additionally, other measures have been outlined by my colleague, the Minister for Enterprise, Trade and Employment, Deputy Burke, including increasing the employer PRSI threshold from €441 to €496 with effect from 1 October. This will ensure that employers with employees earning the weekly equivalent of the national minimum wage will pay the lower rate of employer PRSI of 8.8%. The measures also include launching a second phase of the ICOB scheme targeted at businesses in the retail and hospitality sectors and doubling the innovation grant scheme from €5,000 to €10,000. We have provided other supports for businesses throughout the year. As I said, we have not yet made any decisions relating to budget 2025.

See this speech in context