Progressive moves – Budget business stimulus

The Government has pledged €500 million in programmes designed to stimulate the economy.

While many tough calls have had to be made, like the controversial axing of the bereavement grant, the budget has been positively progressive compared to the last five years.

At the core of this budget there are plenty of welcome measures for small and medium sized businesses.

The 9% VAT rate will be maintained for the hospitality industry, a move which will be sure to help small businesses across the country.

A ‘Start Your Own Business Scheme’ has been announced. People who have been out of work for 15 months or more will get a two year exemption from paying income tax.

The minister also announced a tax credit for entrepreneurs who re-invest proceeds from their disposable assets.

The air travel tax thatRyanair has lobbied against is to be totally abolished.

The government has also announced that new staff will be taken on across the public sector.

Joe Conroy

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