Budget 2025: Sligo Chamber gives cautious welcome but says Government must now focus on delivery
Budget 2025: Sligo Chamber gives cautious welcome but says Government must now focus on delivery
Sligo Chamber has cautiously welcomed Budget 2025 but urged the Government to focus on delivery.
Sligo Chamber CEO, Aidan Doyle said: “Businesses across our region urgently need essential infrastructure to be developed without delay to safeguard our regional and national competitiveness. The funding allocated for infrastructure in today’s budget is welcome but will only have an impact when it is delivered.”
Commenting on Budget 2025, Aidan Doyle said:
Infrastructure
“The €3 billion for infrastructure spending that has been allocated for the delivery of water, housing and electricity grid infrastructure is very welcome news. Accelerating the supply of new homes will help alleviate issues facing SME recruitment and retention. Increased Grid connection in the North West is critical to support the delivery of high-capacity onshore and offshore energy networks.
Cost-of-living
“The cost-of-living package and tax changes, although not directly affecting businesses, will alleviate some of the wage demand pressures facing smaller employers by putting more money back in the pockets of employees.
VAT/Business supports
“The increase to the VAT registration thresholds, the proposed amendment to Retirement Relief, the review and reform of EIIS, the increase in the first-year payment threshold in the R&D tax credit, the Stamp Duty exemption and the participation exemption for foreign dividends are all very welcome measures but will have marginal impact on most smaller enterprises. In this respect, we await details on a proposed €4,000 grant for all businesses with a rates bill of less than €30,000.”
Education
“The investment in our higher education system and our Skillnet Network is a positive acknowledgement that we need to further develop our competitive advantage in education and training. Sligo region’s talent pipeline is one of our key differentiators and maintaining this should be a key priority for Government.
Sligo Chamber Budget 2025 priorities focused on key areas:
- The need to scale-up our delivery of housing, public transport, water, energy and social infrastructure to meet the demands of our growing population and to improve our competitiveness in the long-term.
- The imperative to promote business growth and protect our SMEs from the myriads of financial, administrative and regulatory requirements that have increased the cost of doing business.
- The importance of fostering Sligo and the region by tackling vacancy, developing the public realm and increased investment developing future skills for business.