Budget whets appetite for business

Taking money out of savings and pensions and driving it into the economy can only be good for business believes Ian Gavin, deputy president of Mullingar Chamber.

“Overall I think it will be very good for business. The government are generally trying to discourage people from saving and putting money into pensions and encouraging them to spend it in the economy,” said Ian.

Ian was speaking to the Westmeath Examiner following a Budget Briefing over breakfast organised by Mullingar Chamber and presented by Stephens Cooke and Associates: “Keeping the low vat rate on the tourism sector, the incentives to renovate your homes and purchase property and hold for seven years. So overall taking money out of savings and pensions and driving it into the economy – it can only be good for business.”

Chamber president Pat Whelan congratulated the government on one incentive proposed in the budget that would support unemployed people and help them to start their own businesses.

“The government have at long last have seen that the way forward out of austerity and to bring this country back to an even economic footing is to put money to and give incentives to the people that create employment in this country and they are self-employed.

“Now they have given €500 million for a kitty that will support that sector and there is tax free income for people that set up their own businesses over a two-year period.”

Businessman Des Walsh welcomed the incentives for new business but was disappointed the budget did not do more for established business.

“They are doing absolutely nothing for existing businesses who are trying their best to survive. Existing businesses have high costs of light, heat, insurance, rates and the basics that every business puts up with. They have done nothing towards helping them.

“So much could be done by putting a cap on the cost of ESB, gas, instead, they are all rising in price and putting an extra cost on businesses struggling to survive.”