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Budget 2018: Measures Industry Experts Would Like To See Enacted

Published on Oct 10 2017 10:58 AM in Retail tagged: Featured Post / Trending Posts / Budget 2018

Budget 2018: Measures Industry Experts Would Like To See Enacted

Industry experts within the grocery retail and food and drinks sectors have called on the Government to enact a number of measures, according to their pre-Budget 2018 submissions.

Minister For Finance Paschal Donohoe will make his debut speech at 1pm today, in the Dáil Chamber.

Here is a brief recap of some recommendations that they would like to see implemented:

Retail Excellence has called for a reduction in the current 23% VAT rate in Budget 2018 to combat challenges and to ensure 'Irish retailers maintain a competitive edge against the backdrop of Brexit uncertainty.'

Ibec has called for decisive action and targeted measures to address Brexit-related economic risks, in Budget 2018. The group that represents Irish business has suggested that comprehensive supports to help companies trade through any period of disruption, adapt and succeed into the future are required.

Drinks Industry Group of Ireland (DIGI) is calling on the Government to enact a number of pro-enterprise measures, including reducing alcohol excise tax by 15%.

The Irish Wine Association (IWA) has called for an alcohol excise reduction in the upcoming Budget 2018.

The Irish Beverage Council has suggested for the government to defer the proposed sugar-sweetened drink tax, according to its pre-Budget submission.

Food Drink Ireland (FDI) has called on the Government to 'introduce a series of measures' so that the sector can 'maintain its competitiveness and achieve its growth potential' against the backdrop of Brexit and a significant weakening of sterling. The Ibec group that represents the food sector suggested that a €600 million fund is needed, over a three year period to help the industry adapt to trade disruption, according to its Budget 2018 submission.

It will all become clear after lunchtime today.

© 2017 - Checkout Magazine by Donna Ahern

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