Ibec calls for PRSI rebate for service sector amid high cost of doing business

A separate report by the Department of Enterprise, Trade and Employment showed that firms in the hospitality sector could see payroll costs rise to 37% by 2026.

The ‘front of house’ aspects of the economy directly employs approximately 230,000 individuals, accounting for nearly 9% of total employment in the country, according to an assessment report published by Ibec.

Lobby group Ibec has called for a PRSI rebate for businesses in the service sector most affected by increased costs, as government is unlikely to budge on lowering Vat.

There have been several closures in the hospitality and service sector, also referred to as the experience economy, since the start of the year with many operators citing the high cost of doing business as their main challenge.