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THE SMALL-BUSINESS LOBBY has branded this year’s Budget as “uninspiring” for entrepreneurs and given the government a spray for continuing unfair tax measures against the self employed.
Irish Small and Medium Enterprises Association (ISME) chief executive Mark Fielding said the the tax system still discriminated against the self-employed, who paid more in taxes than the rest of the working population.
“So much for encouraging entrepreneurs,” he said.
“So much for last week’s policy document on entrepreneurship … so much for ‘making Ireland the best small country in which to do business’.”
Self-employed workers pay higher tax and PRSI contributions than company employees with those on low incomes slugged particularly hard compared to most wage earners.
At least most taxes are going down
But Fielding praised the government for trying to ease the tax burden on workers and he said the move would hopefully drive more spending and investment.
The top marginal tax bracket was cut from 41% to 40% in today’s Budget and Universal Social Charges were also reduced for the majority of workers.
Meanwhile, the Small Firms Association (SFA), which represents businesses with less than 50 employees, gave a general thumbs up the Budget – although it also called for discrimination against the self employed to stop.
Chairman AJ Noonan said the government’s measures should lift disposable incomes and would help small businesses get easier access to finance.
“The improvements announced to the Employment and Investment Incentive Scheme (EIIS) should assist small businesses by making it more attractive for private investors to invest in small indigenous business and get a tax write off,” he said.
Finance Minister Michael Noonan today announced individual companies would be able to raise up to €5 million each year through the incentive scheme, which offers tax breaks to business investors.
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The UK will do nothing of the sort, or they’ll get hammered with trade sanctions. Just trying to quieten the unionists down for a while.
@Neil A Campbell: Teresa May correctly pointing out in the Commons today that the DUP voted against a deal that would remove the need for a border in the Irish sea. The DUP’s desire to see a hard border on the island of Ireland is palpable.
@Ian O’Donovan: true – and people seemingly passing over the fact that Donaldson objected to signing The Good Friday Agreement – they should call themselves the want their cake ear it party
“The current EU proposals….has left them without an Executive and with a threat to peace and stability”. No they haven’t. The DUP has left them without an Executive and the DUP threatens peace and stability.
@GrumpyAulFella: Jeffrey was never in favour of the GFA and even left the UUP over it. He has a history of not wanting to share power.
“ok ok ok i’m gonna do it guys, watch me watch me, this time i’m totally serious” never going to happen, to much to lose.
@Ian O’Donovan: Liz Truss is a wannabe Maggie Thatcher and will say anything to get noticed.
They’re still trying to find a scapegoat for the self-inflected damage of Brexit. Abandoning the exit agreement that Boris agreed would be an admission of their error. That will also trigger a worse-than-before situation for which they would again blame others. I look forward to participating in economic sanctions if that occurs.
UKG delivering on shadow promises made during Brexit vote, in spite of democracy.
@Rúraíocht: There will be no unilateral action by Boris, the consequences for the whole of the UK don’t warrant it.
No mention of this in the queens address to parliament yesterday delivered by big lugs. Which liz should we be taking heed of?
Like the cowardly antagonist that gets called out “hold me back, hold me back”
While the DUP threats grow bigger, the E.U. and Ireland say nothing of the consequences of the Boris bluff. If the E.U. were firm and said, for example, no trade agreement between E.U. and uk or put Boris in a situation where he had to choose between the ‘mainland’ and N.I. then the ‘mainland’ would win everytime.
What will Jeffrey do when the economic consequences of his actions begin to effect the mental health etc of his constituents?
@Barrycelona: We could see the “Plantation” of Scotland, Wales or England.
have your say