Monday 5 December 2016

Taxes and infrastructure top priority for next government, firms say

Published 03/02/2016 | 13:39

Tax and infrastructure will be key to next government, firms say
Tax and infrastructure will be key to next government, firms say

Changes to employee-related taxes and improvements in infrastructure are the top requirements for the next government as far as Ireland's business community is concerned, a survey suggests.

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The study of 350 firms by accountancy group BDO found that the vast majority of businesses – 80pc – want the next government to make changes to employee related taxes, and 78pc said improved infrastructure is required.

But when asked which party best represents their needs, 31pc said they were still undecided and 14pc said none of the parties.

BDO managing partner Michael Costello said Irish businesses still face significant challenges, despite the economic growth.

“Business owners want the next government, whoever that might be, to prioritise addressing employee related taxes and to improve Ireland’s infrastructure in order to facilitate business and help companies grow,” Mr Costello said.

“Likewise there is a strong  appetite from business owners for the next government to revisit the Capital Tax Gains threshold, which many feel hasn’t gone far enough, despite last year’s reforms. Business owners will be watching to see how the political parties address the issues which they see as fundamental to the growth of their businesses.”

Separately, the threat of Britain voting to pull out of the EU is becoming an increasing concern for business.

Half of all businesses surveyed said a potential British exit is an issue, an increase from the 35pc who raised the issue as a significant concern in the previous BDO poll during last summer.

“Issues beyond the control of any Irish government, such as the possibility of Brexit are an increasing concern as the debate within the UK over its future in Europe intensifies,” Mr Costello added.

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