Little comfort for small Irish firms, says ISME
This is the view of Daniel Hickey, managing director of Dublin-based AllinAll Ingredients, which operates a blending plant in Dublin.
“Domestically-owned companies operating in exposed sectors have a very difficult time and I don’t know if it is fully appreciated”.
He said that a year ago Minister Cowen’s predecessor helped indigenous industry by extending the Business Expansion Scheme and the R##~amp;D tax credit, yet there was not one mention of them in yesterday’s Budget.
But he said that businesses can take comfort in that the rate of inflation will be broadly in line with that of other European countries.
Another issue for business will be the second round of benchmarking payments. Mr Hickey, who is deputy chairman of the small business group ISME, says he fears that pay rises for local authority workers will be made up by small firms paying higher rates.
