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Seanad: Cost of Doing Business: Statements (17 Apr 2024)

Peter Burke: ...their energy systems or opening up new markets online. I will shortly publish a new LEO policy statement which will clearly outline the role of the LEOs in contributing to the priorities of the White Paper on Enterprise. The extension of the 9% VAT rate on gas and electricity to the end of October 2024 will alleviate some of the pressures faced by businesses as a result of rising energy...

Seanad: Cost of Doing Business: Statements (17 Apr 2024)

Micheál Carrigy: ...are a lot of difficulties, especially at the hospitality end of things. In recent times we have seen a significant number of closures, particularly of cafés and restaurants. They are struggling a lot. The VAT rate was brought down to 9% during Covid but has returned to the flat rate of 13%. These businesses are finding it difficult. We could look at the possibility of splitting...

Seanad: Cost of Doing Business: Statements (17 Apr 2024)

Maria Byrne: ...’s Department shows those most impacted are small and medium-sized businesses, especially in the tourism and hospitality industry. Senator Carrigy referred to the possibility of splitting the 9% VAT rate. It is something I have called for in the past because it needs to be looked at. In November 2023 there were 50 restaurants and cafés closed, but nationwide there were 280...

Seanad: Cost of Doing Business: Statements (17 Apr 2024)

Sharon Keogan: ...around parental leave, more sick days, auto-enrolment in pensions and so on. A likely knock-on effect of these electorally appealing policies will simply be that there are fewer jobs. The restaurant association and the hospitality trade have called for a reduction of VAT from 13.5% to 9%. These businesses are an integral part of our communities. Two restaurants are closing per day and...

Seanad: Cost of Doing Business: Statements (17 Apr 2024)

Malcolm Byrne: ...the Minister. He served very well as Minister of State at the Department of housing and as Minister of State with responsibility for European affairs. I am certain he will bring his own innovative style to this job. I also pay tribute to his predecessor, Deputy Simon Coveney, who regularly attended this House and was certainly willing to engage with Members on issues. We wish him well...

Seanad: Cost of Doing Business: Statements (17 Apr 2024)

John Cummins: .... A key part of that scheme was that it would not be an offset in rates but rather a cash injection into businesses. That was critical. There will be debates between now and the next budget on the VAT rate. I am on record in my support for a different VAT rate in the tourism and hospitality sector. I hope that is being considered by the officials. I know 9% is being floated and it...

Seanad: Cost of Doing Business: Statements (17 Apr 2024)

Peter Burke: ...but we want to work with employers to ensure their viability is in no way impacted by any of those measures. We will do that in the days and weeks ahead. There are some important interventions such as the 9% VAT rate on gas and electricity up to October. That is significant. The energy efficiency grant is also very important. A small café, hospitality business or deli can...