Martin Lynch President of the Cashel Chamber of Commerce is expressing deep disappointment with the Government’s decision not to reinstate the 9% VAT rate for the hospitality industry and those within the services sector.
The business sector rep says the decision is a devastating blow to businesses in Cashel, many of which are already struggling to cope with rising costs and economic pressures.
Mr Lynch is warning of closures unless more substantial support is provided saying that the minor supports proposed by Government, such as the Energy Subsidy Scheme, are largely irrelevant to the core issue of soaring operating cost.
The Chamber president says the €4,000 new grant per business offered in the budget is insufficient to cover the annual increase in costs, let alone provide meaningful relief.
In a plea for action Martin Lynch describes the small businesses as the foundation of Cashel’s economy and the heart of the community and warns that if the Government does not act now, the consequences will be felt not just in lost jobs, but in the erosion of the very fabric of the town.
