Athlone Chamber of Commerce mixed reaction to Budget after VAT rate let down

Athlone Chamber of Commerce has today expressed its disappointment as the 9% VAT rate for hospitality was not included in the Budget.

The Chamber has welcomed many of the initiatives announced, however, it has raised questioned why the strongly lobbied for initiative was not reinstated.

“Our local economy remains robust, with strong employment and healthy tax receipts that show the resilience of our businesses,” said Regina Bushell, President of Athlone Chamber of Commerce.

“While we regret that the Government did not act on the VAT reduction for hospitality, and I feel SMEs will need to be supported by government giving the rise of the minimum wage which will have a knock-on effect on all wages and the additional costs associated with auto enrolment.

"However, we do acknowledge the significant investment in infrastructure and the business supports introduced.”

The Government’s €3 billion funding for core infrastructure, in the areas of housing, water and power has been welcomed by the Chamber.

It has said these investments are essential for sustaining economic growth, attracting investment and ensuring that local businesses can continue to operate efficiently.

Another encouraging initiative is the continued investment in skills through the National Training Fund (NTF). This focus on upskilling and reskilling will ensure that Athlone and the wider Midlands region have the talented and adaptable workforce necessary to meet future challenges.

Tommy Hogan, CEO of Athlone Chamber of Commerce, added: “The Budget demonstrates an understanding of the pressures facing our business community, but we believe further action is required to address the specific needs of sectors like hospitality. We look forward to continued engagement with the Government to advocate for necessary reforms in the future.”