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€5m relief for firms

THE Department of Enterprise has pledged measures to slash 25pc of red tape imposed by Government on small business by the end of the year.

The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD (right) outlined new measures to save up to €5m a year for businesses.

Mr Bruton said firms with a turnover of less than €8.8m and a balance sheet of less than €4m are to be exempt from the statutory requirement to engage independent external auditors to examine their accounts.