The Taoiseach stated in his speech to the National Economic Dialogue in June 2017 that “we cannot take continued economic growth for granted”. For this reason, upcoming Budgets must give businesses the best possible opportunity to generate future economic growth by removing existing constraints and taking a “do no harm” approach with any new initiatives. |
In light of the severe restrictions on the fiscal space for Budget 2018, the SFA submission focuses on a small number of carefully selected priorities. The SFA believes that these actions will create the biggest impact with the available resources.
The four priorities identified by small businesses to allow them to continue their major contribution to growth, job creation and regional economic recovery are:
1. Increase the Earned Income Tax Credit to €1650 to equal the PAYE tax credit
2. Introduce a workable share-based remuneration scheme for employees of small firms
3. Increase the lifetime limit for CGT Entrepreneur Relief to €15 million
4. Increase capital expenditure to 4% of GDP per annum
More information is available in the full submission attached below.