Mitchell O’Connor thanks local business community for engagement on Budget 2014

Fine Gael Dun Laoghaire Deputy, Mary Mitchell O’Connor, has welcomed the engagement made by small and medium business community in Dun Laoghaire in the run up to the framing of Budget 2014.

Deputy Mitchell O’Connor said that the business community making its views known at government level is essential to ensuring that their needs are met. This ensures that the measures that encourage future investment are put in place to allow for the job creation we need.

“I have been working hard for small and medium-sized enterprises (SMEs) both at constituency and national level since I was elected in 2011 by holding meeting with Government Ministers who can determine, first-hand, what it is the business community needs most. Earlier this year, I organised an SME conference at Fitzpatrick’s Killiney Castle Hotel called, ‘Listening to Small Business’ which was attended by the Minister for State for Small Business, John Perry TD, who took careful note of the information being relayed to him.

“As recently as last week, I brought a group of local small business representatives into the Department of Jobs, Enterprise and Innovation so that they could make their case to the Advisory Group for Small Businesses. In his post-budget speech, Minister Perry stressed the importance of recommendations from the Advisory Group, which he brought to the attention of Minister Noonan during his Budget deliberations.

“There is no doubt that this Budget is a pro-jobs and pro-business one; a fact which is reflected in the response to it from business leaders. Among the measures included in yesterday’s announcements are a €500 million tax package for SMEs, 25 new measures to support entrepreneurs and job creation, the retention of the 9% VAT rate on tourism and hospitality, a Building Your Business initiative, a 2 year income tax exemption for long term unemployed who start a business, Capital Gains Tax relief on reinvested proceeds to encourage future investment from businesses, an increase in the VAT cash receipt threshold to €2m, the removal of Employment and Investment Incentive from Higher Earners Restriction, an improvement to R&D Tax Credit and a Training and Mentoring programme for SMEs.

“Minister Bruton estimates that more than 48,000 new jobs will be supported next year through the Department of Enterprise budget. I am delighted that the efforts of all the businesses who engaged at a local, or indeed, national level have paid off. I will continue to work for SMEs to ensure that their concerns continue to be met so that they can grow and prosper and create the jobs we need. “