14 August 2015
By Bryan T. Smyth
Cork Chamber today released its submission ahead of Budget 2016. The primary focus of this document is on innovative solutions which the Chamber believes will aid continued economic growth and job creation whilst fostering a positive environment for start-up enterprises and increasing consumer confidence.
Discussing the launch of the submission Barrie O’Connell, Cork Chamber President, said “Our recent Q2 Economic Trends survey provides evidence to support a continued positive outlook amongst Cork businesses with 96.6% of those surveyed reporting confidence in the future of their business, nearly 10% higher than reported this time last year. Our submission aims to further support businesses recovery with measures to increase available consumer spend and balanced treatment for self-employed owner-managed business. Central to the above is a reduction in the overall marginal tax rate for individuals, in particular USC, and adoption of a consistent simplified approach for owner-directors and self-employed.”
Mr. O’Connell continued “Cork Chamber includes a number of policy recommendations that will not only make it easier for those in business today to develop and prosper but will also facilitate entrepreneurs to enter and continue in the Irish market by removing restrictions on the CGT entrepreneurial relief following completion of the current regime signalled by Minister Noonan.”
Mr O’Connell concluded, “Cork Chamber believes it is important to maintain an appropriate balance between current spending and capital investment as part of Budget 2016 and the Capital Investment Programme. Our submission proposes continued and increased investment in Infrastructure and Housing solutions which are key enablers to facilitate sustainable economic growth in the Cork region.”
Cork Chamber is the leading business organisation in Cork supporting and representing the interests of close to 1,100 businesses employing over 100,000 people in the region. Cork Chamber delivers a wide range of member services and has a mandate to develop and promote policy recommendations that create an enabling business environment and support the region’s economic development.