Kilkenny North-West TD committed to supporting small business, hospitality and retail

The Programme for Government includes a strong focus on supporting SMEs, says Deputy Michael Lowry, who underlined this requirement as a priority issue for the Regional Group of TD’s during Government formation talks.

‘Measures will be brought forward to support SMEs, in particular those in the small business, retail, and hospitality sectors. The increased cost pressures on these sectors are stifling business owners, with too many already closed or just barely hanging on. These measures will entail changes to VAT and PRSI among others.

"Small, independent restaurants, pubs, cafés, and other hospitality businesses which, in total, employ 270,000 nationwide have been crippled by rising costs in recent times," he said.

"The food and hospitality sector has long called for the lower 9pc VAT rate to be reinstated as they point out that operating costs for produce, wages, and energy bills have risen with inflation in recent years.

"These widely welcomed changes will form part of the normal Budget process," says Deputy Lowry.

"The incoming government will also move to establish a new Small Business Unit within the existing Department to back small businesses. This will ensure that they have support and a dedicated focus in
Government."