Coalition keen to back companies grappling with mounting cost of doing business, says Minister for Enterprise Simon Coveney
The parameters of the scheme — the companies that will benefit and how they will access it — have still to be finalised it is said to have broad support within the Cabinet.
“We need to recognise as a Government that businesses are under pressure just as households and we need to respond to that.” he said. The plan was “to help businesses go into 2024 with a modest improvement in their cash flow,” he said. “There are very few countries in the world that apply the highest rate of income tax to somebody who earns €40,000 a year. Ireland is an outlier in this space and Fine Gael policy recognises that and that’s why we’re insisting on changing it,” he said, hinting the threshold at which workers had to pay the higher tax band would be increased again.
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