Budget 2023: Retail Ireland welcomes measures to offset energy costs

Mininster for Finance Pascal Donohue and Minister for Public Expenditure and Reform Michael McGrath

Personal tax cuts will support household budgets in run up to Christmas, says Retail Ireland - although more supports will be needed if energy crisis continues into 2013

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Retail Ireland, the Ibec group that represents the Irish retail sector, has welcomed measures in Budget 2023 to offset spiralling energy costs and bolster household finances as we enter the crucial Christmas trading period. The group however cautioned that more supports would be needed if the energy crisis continues into 2023. The outlook for the sector remains very challenging.

“The new energy support scheme will offset the worst excesses of recent price hikes, but more help will be needed into next year. Without ongoing support the energy crisis will push many vulnerable retail businesses to the wall,” said Retail Ireland director Arnold Dillon.

“Reducing personal tax and childcare costs will help those struggling with bills and support consumer spending in the run up to Christmas. It is crucial that people see a way through the current period of high inflation. Today’s budget provides important relief for individual and households budgets and will hopefully support a recovery in consumer sentiment.

“It is disappointing to see the reduced VAT rate for hospitality withdrawn. The measure contributed to the development of vibrant town and city centres. Planned labour market reforms, which will significantly increase employment costs, remain a concern. It is crucial that businesses are provided with more support as they work to manage and implement these far-reaching and costly reforms.

“Crime and anti-social behaviour remain a major challenge in town and city centres,” Dillon added. “Funding for extra Gardai is welcome and should be used to ensure a more visible presence on the streets.”

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