Dundalk Chamber of Commerce hold Budget Breakfast Seminar

Dundalk Chamber of Commerce has welcomed many of the measures announced in Budget 2023 stating that it was a favourable one for most sectors of the economy, including business and the SME sector.

The details of the Budget statements were scrutinised by Rachel Dillon, Partner in Ernst and Young, EY at Dundalk Chamber’s Budget breakfast which was attended by over 200 people on Wednesday.

The Breakfast was once again sponsored by PayPal.

Paddy Malone PRO of the Chamber says that most of the issues we raised in their Budget submission were addressed.

The chamber say they welcome the support for energy costs but are disappointed that some professional businesses such as dentists may be excluded.

They also welcome the fact that there was no increase in Capital Taxes or VAT.

However, they say they are disappointed that the hospitality rate of 9% will be abolished in February 2023.

The chamber feels this will make the 2023 tourist season a difficult one, despite the strength of the US dollar.

They also said:

“We note the continued support to the All-Island Fund but note that the proposal to allow cross border investments has once again been ignored.

“We also note that although the Living City Initiative has been extended in time the number of locations is still restricted.

“The Growth Centres identified in the National Development Plan 2040, which includes both Drogheda and Dundalk should be included.

“We were delighted that the two asks we made last year to the Tánaiste when he visited Dundalk have both been achieved.

Again, there is some concern over the detail but employers in Dundalk will be able to use the Shop Local Vouchers twice in the year up to a maximum of €500 on each occasion.”

“This means that for the Christmas bonus the maximum will be €1,000 if not used already this year and that next year it could be used at summer holidays/bonus and Christmas.

“Dundalk’s shop local is the most successful in the country supporting the retail sector.”

They further note that the retail sector will temporarily come under pressure in the next few weeks with the fall in sterling.

Una McGooey, President of the Chamber has asked people to consider the total costs when considering shopping cross border, including transport cost, time and other costs as well as the potential loss of jobs in the retail sector.

“Sterling has fallen by 5% which means a maximum saving of only €10 on €200, before the extra costs are considered.”