Support for SME sector ‘essential’

Cork: Cork Chamber has emphasised that support for the struggling SME sector is vital to kickstart growth in the Irish economy.

In its pre-budget submission, the Chamber, while recognising the difficulties in funding a stimulus for the economy, is proposing an entrepreneurs’ tax relief. This would reduce the effective capital gains tax from 25% to 12.5% for “qualifying disposals”.

The chamber said experience of a similar scheme in Britain has been positive to date.