A Clare representative of business lobby group IBEC insists the 9% VAT rate for the hospitality sector should be retained permanently.
Cabinet is set to sign off on a new cost-of-living package today, though the measures being delivered are expected to be significantly less than those in Budget 2023.
A 400 million euro social welfare spend will see a 200 euro lump sum to welfare recipients, including pensioners and jobseekers, while there will be a once off 100 euro extra payment on child benefit.
Cuts to excise on fuel are being retained until later in the year, while the reduced VAT rate for the hospitality sector is to be extended until the end of August, before reverting back to 13.5%.
IBEC’s Cratloe-based Executive Director of Membership and Sectors, Sharon Higgins says phasing out the 9% VAT rate could lead to businesses in the industry struggling to stay competitive.
Listen to the full interview here:
