Reaction to Budget 2015
Focus Ireland: Director of advocacy Mike Allen welcomed the €2.2 billion investment in social housing over the next three years, calling it the “type of substantial investment in social housing and in long-term planning which has been needed for years”. But he added that it will take at least 18 months until this investment delivers the first homes for people in need, saying a clear and effective short-term strategy to tackle the current crisis in family homelessness and in access to affordable housing for single people was needed.
Institute of Professional Auctioneers and Valuers: The “aggressive social housing spend” in today’s budget was welcomed by chief executive Pat Davitt, who said the measure, along with the removal of the 80 per cent windfall tax “will help lift off some of the extreme factors impacting and distorting the property market and assist in the development of a more sustainable market”. He said the effort to help first time buyers with DIRT relief would have “very limited impact since interest rates are extremely low in any event”.
Irish Cattle and Sheep Farmers’ Association: ICSA president Patrick Kent welcomed measures to encourage long-term leasing and support land mobility to progressive farmers, but said the agri-taxation review has not gone far enough to support collaborative farming arrangements. “More needs to be done to incentivise farm partnerships. The taxation incentives outlined here are geared towards leaving farming and leasing out to unconnected third parties.”
Corporate tax rate
IDA Ireland: The foreign investment agency said enhancements to Ireland’s offering to global companies announced in the budget, particularly the renewed commitment to the 12.5 per cent corporate tax rate, were to be welcomed.
American Chamber of Commerce: The Chamber said the certainty provided by the new corporate tax roadmap has ensured Ireland will retain investor confidence.
Ibec: “The Government has responded assertively to the changing global tax environment. Ireland has sent out a clear signal that we will continue to compete aggressively for mobile investment.”
Budget 2015 will support job creation, growth and consumer confidence. Moves to reduce tax, increase investment and update Ireland’s international tax offering meant it was a budget for job seekers and job creators.
Dóchas: The network of Ireland’s overseas development NGOs Dóchas expressed disappointment that the Government has failed to make progress towards the UN overseas aid target of 0.7 per cent of GNI, despite the economic recovery and the “be overwhelming public support in Irish society for overseas aid”.