Dundalk Chamber of Commerce held their annual Budget Breakfast in the Crowne Plaza Hotel, Dundalk last Thursday. Sponsored by Paypal, the event was a sell out with over 150 Chamber members in attendance. Attendees from financial, professional and the wider business community came out early to hear speaker Enda Jordan, Tax Director with Ernst & Young unravel the complexities of this year’s budget. Margaret Ward of Paypal announced that they were recruiting 120 staff at present.
Enda Jordan Ernst & Young, Margaret Ward Paypal, Paddy Matthews President Dundalk Chamber, Laura Morgan Paypal, Paddy Malone PRO Dundalk Chamber, Bernie Woods Louth County Council.
Paddy Malone PRO of the Chamber highlighted a number of issues of relevance to Dundalk businesses. He welcomed the retention of the 9% vat on tourism and that there was no increase on the standard rate. These two measures mean Dundalk is competitive for the Christmas trade. The SME sector will benefit from the extension of the cash receipts basis to 2,000,000 in turnover.
Other areas of note are the tackling of fuel laundering and the introduction of a tax exemption for new businesses set up by individuals who are currently unemployed.
We are disappointed with the increase in DIRT but overall the budget would be seen as pro business.
At our Council meeting this morning the mood was the most up beat on the last 5 years.