5 August 2015
By Bryan Smyth
Cork Chamber’s second quarterly economic trends survey of 2015 paints a positive picture for Cork-based businesses with high levels of business confidence and positive increases in employment amongst the main findings. Confidence figures are strengthened by reported and projected increases in turnover and net profit. Survey findings regarding employment are also positive with 44% of companies increasing the number of people employed over the second quarter of 2015 and 35% of respondents predict that they will increase their employees over Q3.
This quarter’s survey focused on understanding Cork businesses key calls in advance of the upcoming Budget. The survey results reported that increasing investment in crucial infrastructure projects and reducing or eliminating the USC are included in the top priority areas in which businesses believe the Government should target in Budget 2016. Other key calls include increasing the scope of the R&D tax credit, decreasing income tax especially for middle and low income earners, reducing employers PRSI and reducing Capital Gains Tax.
Interestingly despite these calls it was clear from the responses that businesses want the government to be prudent in developing Budget 2016 and to maintain their commitment to reducing National Debt and enhancing Ireland’s international relationship through responsible governance.