Higher investment in Irish economy welcomed – but delivery is critical
Sligo Chamber of Commerce has welcomed the assistance for business and general cost of living measures announced in Budget 2023 but says the timely delivery of all these elements is critical. The principal concerns of Sligo Chamber in advance of the Budget were Energy, Housing, and Talent. Commenting on some of the Budget 2023 measures announced yesterday, Sligo Chamber CEO Aidan Doyle said:
Energy
- “Policies such as the Temporary Business Energy Support Scheme are likely to be useful for the businesses, the caveat being that we are still awaiting clarity on the delivery qualifying criteria. With a cap of €1 billion on the scheme, there are questions regarding the adequacy of funding should downside risks prove greater than the government hopes. We do welcome the renewed commitment to the Rainy-Day fund of €6 billion over the next 15 months and the commitment to developing our natural renewable energy resources.”
Housing
- “The focus on social housing is important, but the actions of the Department of Housing need to be directed towards financing direct builds to ensure that ordinary buyers do not find themselves competing with state bodies in the open market when they are trying to buy their homes. The vacant homes levy is useful but is not sufficient in itself to alter incentives – Sligo Chamber would like to see a far wider range of vacant and derelict properties to be covered and taxes high enough to make hoarding of land unprofitable.”
Skills & Talent
- “Increased childcare supports are to be welcomed – too many women have been excluded from the workforce because of caring duties that have fallen on their shoulders. Making it easier for highly skilled people to maintain their labour force activity through the difficult early years of parenting is vital for both our society and our economy. Elsewhere, the Irish labour force has demand gaps across all areas, not just those that require third level qualifications. We also need to facilitate, rather than restrict, people migrating to Ireland for economic reasons as Ireland is in a competitive global market for talent. The increase to the €1,000 voucher scheme is also welcome, particularly the greater flexibility with which employers can issue them and which will boost the Christmas economy.”
For more comment or Budget reaction, contact Aidan Doyle at Sligo Chamber of Commerce, 071 916 1274