Costs are top election issues for businesses – Ibec study
The cost of doing business is the top election issue exercising the minds of senior business leaders, new research by Ibec has found.
25% said it was the most pressing challenge that they want to see in the general election campaign.
Housing was the next most important concern, cited by 22% of respondents.
The provision and modernisation of infrastructure were referenced by 21% of those who took part in the study.
“With five days to go until the election, it’s clear that the cost competitiveness challenges facing businesses have become a central theme in this campaign, reflected in many party manifestos,” said Fergal O’Brien, executive director of lobbying and influence at Ibec.
“From Ibec’s perspective, we are encouraged by the broad consensus around introducing a PRSI rebate for businesses to offset rising costs – a measure we proposed to support businesses most vulnerable to these pressures,” he said.
Some 86% of the respondents said they believe the new Government will impact the business environment, with 51% expecting a significant impact.
The survey was carried out as part of an analysis of party manifestos carried out by the business representative organisation.
“While parties differ on the specifics, there is a growing recognition of the need to reform the personal taxation system, particularly regarding thresholds for higher income tax rates,” said Mr O’Brien.
“Given the growing global uncertainty it is vital that the next Government ensures that our personal tax system remains competitive,” he said.
He said that Ibec recently published a new energy paper highlighting the impact of high electricity costs on Irish businesses, which remain among the highest in Europe.
“The paper outlined practical short- and long-term measures to address these costs for both businesses and households,” he added.
Article Source – Costs are top election issues for businesses – Ibec study – RTE
