Sinn Féin’s Alternative Budget proves that the party does not understand Irish business – Burke

Minister for Enterprise Trade and Employment Peter Burke TD has criticised of the Sinn Féin Alternative Budget published this week, saying there’s nothing in it for Irish business.

The alternative budget being proposed by Sinn Féin is yesterday’s solutions to yesterday’s problems and is not materially different to alternative budgets published by the party in the past.

He said: “What is particularly of concern is how the Sinn Féin proposals either completely overlook or are indifferent to the issues and challenges now being faced by Irish business, namely rising input costs and especially energy costs along with the challenges of recruiting and retaining staff.

“The Sinn Féin alternative Budget would –

• Penalise business expansion with a higher Stamp Duty rate for commercial property
• Dilute investment returns through higher withholding taxes and capital gains tax
• Make the market for skilled labour even more difficult by levying more income taxes on higher earners.

“Nor is there adequate provision in the Sinn Féin proposals to deal with the broader power generation and water supply issues which face the country.  The proposed infrastructure fund of €50m in the first year is totally inadequate and reflects the lack of understanding of the scale of the transformation needed,” Minister Burke added, pointing out that he is working with government colleagues on ways to provide the multi-billion euro investment in the national grid.

“It is clear that the opposition have learnt nothing about the enterprise needs of the country despite having chaired the Oireachtas Committee on Enterprise, Trade and Employment during the term of this Dáil,” Minister Burke concluded.