Minister Cummins says VAT reduction will be ‘huge help’ to Waterford businesses
The Waterford TD welcomed the Government’s decision to reduce the rate of VAT
Fine Gael TD and Minister of State John Cummins has said that the recently reduced VAT rate will be a “huge help” to Waterford businesses.
On Tuesday, the Government announced that the VAT rate would be reduced to nine per cent in a bid to help businesses remain competitive.
Minister Cummins welcomed this announcement which he says will create jobs and provide quality services across County Waterford.
The Waterford TD said: “In Fine Gael, we know that running a business isn’t easy and we are committed to working hard to reduce costs for businesses.
“There are around 20,000 restaurants, pubs and hotels across the country.
“They are in every town and village in Waterford, from Knockanore all the way to Passage, providing a great service for the community.
“Jobs in hospitality are vital for so many communities across Ireland, and we need to do all we can to protect them and our economy.”
He went on to outline the impact which he believes the change will have on the ground in Waterford.
“In 2025, there were 186,000 people employed in Accommodation and Food Services, with 75% of businesses employing less than 10 staff.
“That’s why this reduction in VAT for the hospitality sector will be a huge help to so many.
“This change will be felt on the ground; by our family-run shops, cafés and service providers who have worked hard through challenging times. It gives them space to reinvest, innovate, and expand.”
Minister Cummins concluded by saying that Fine Gael is committed to supporting small businesses in Waterford and across the country.