Dundalk Chamber of Commerce holds annual post Budget breakfast
Large turnout for the annual event
Dundalk Chamber of Commerce held its annual post Budget breakfast on Wednesday morning. The briefing was given, as usual by Colin Spence of EY and was chaired by Paddy Malone.
There were over 170 in attendance at this year's breakfast. The sponsor of the event, as for the last 10 years, was PayPal
James Abel of PayPal spoke of the company’s continued commitment to the economic and community life of Dundalk.
Colin confirmed that there were no real surprises from a business perspective. He set out the adjustments to tax credits and rate bands, all of which had been known of for several days. He pointed out that the Dundalk Chamber of Commerce Shop Local voucher got two positive adjustments, firstly from next year it can be given to an employee five times a year, rather than twice, and the maximum annual amount is now €1,500.
At the end of the briefing Paddy Malone pointed out that both these changes would give employers even more flexibility in 2025.
Colin also pointed out improvements in the EIIS scheme for investors, but no Cross-Border relief as the Chamber had sought, Capital Gains Tax on business and Inheritance Tax thresholds.
There was also considerable expansion in the capital budget on infrastructure. Pat McCormick, President of Dundalk Chamber welcomed this as he had pointed out on several occasions recently that there had been a lack of investment in recent years in the area. This has caused a number of issues for industry in the region.
Looking to the future, Colin expressed his concern that employers needed to enhance their PAYE reporting procedures, get ready for auto pension enrolment and other matters.
Paddy added to that, by pointing out the complexity of cross border workers. The Chamber says that it has held briefings for employers in the past and will do so again shortly.