IBEC slams tax increases

Turlough O’Sullivan, Director General of IBEC, has said that the Minister for Finance should have made more cuts in spending rather than increasing taxes in today's Budget.

Mr O'Sullivan said: "Business recognises the need to take corrective measures to stabilise our public finances. Nevertheless, in the Minister’s efforts to achieve this, IBEC would have preferred a greater emphasis on cutting current expenditure rather than on increasing taxation.

"It is important that this Budget helps position Ireland to trade successfully, especially after the global economic recovery comes."

IBEC said they were disappointed that the Government has not more fully addressed the Budget deficit and has not been more determined in its efforts to reduce the public service pay bill.

The business body also criticised the move to bring forward the payment dates for corporation tax, saying "this could impair the cash flow of many companies in the very difficult current circumstances".

More on this topic

Budget measure forces just five tax exiles to payBudget measure forces just five tax exiles to pay

Exchequer figures show €18.7bn budget deficit

Emergency Budget measures come into effect

Varadkar: Mortgage relief controversy shows Cabinet incompetenceVaradkar: Mortgage relief controversy shows Cabinet incompetence

More in this Section

Berlin to take 20% stake in €9bn bailout of Lufthansa as airline struggles amid Covid-19 travel falloutBerlin to take 20% stake in €9bn bailout of Lufthansa as airline struggles amid Covid-19 travel fallout

Ictu head Patricia King warns Paschal Donohoe against cutting €350 pandemic paymentIctu head Patricia King warns Paschal Donohoe against cutting €350 pandemic payment

Engineers want the Government to increase spending to stimulate the economyEngineers want the Government to increase spending to stimulate the economy

Office supply wholesaler Spicers Ireland is rescued from liquidationOffice supply wholesaler Spicers Ireland is rescued from liquidation


Lifestyle

Retail withdrawal symptoms can be quelled with thoughtful online purchases for birthday gifts, to elevate our spirits and help small local and family run businesses, writes Carol O’CallaghanPoster boys: Guide to wall art you can source from local businesses online

Make everlasting mementoes and gifts by growing and drying your own flowers, with help from expert floral artist Bex Partridge.How to dry home-grown blooms

I went to Hanford high school in the US, there is a joke that we all glow in the dark.This Much I Know: Dr Cara Augustenborg, environmental scientist

My girlfriend and I live in a shared house, and she's excited by the idea of having sex during the day, while there are other people in the next room.Sex File: I don't like being spontaneous

More From The Irish Examiner