Accountants: Budget damages competitiveness

The Institute of Certified Public Accountants has said that today's Budget has done no favours for the competitiveness of Irish business in a year when many businesses have been impacted by the global market slowdown.

"With prospects of economic recovery slim for 2003, the changes in Stamp Duty, Capital Gains Tax, Capital Allowances and VAT will all impact negatively on Irish business," Eamonn Siggins, chief executive of the Institute of Certified Public Accountants said.