The National Federation of Retail Newsagents (NFRN) Ireland says that Budget 2016 has done little to address the concerns of small businesses.
The group said that the measures announced in the Budget have resulted in the 'government giving with one hand, with tax credits for the self-employed, and taking with the other hand, by increasing the minimum wage and adding 50 cent to the price of cigarettes'.
NFRN Ireland District President Peter Steemers said: “While the introduction of a new €550 tax credit for the self-employed and bringing debit card fees into line with European norms are very welcome, the Budget [...] has done little to allay the concerns of small business owners about where the government’s priorities lie."
On the tobacco price increase, Steemers said that it is "particularly distressing for independent retailers to see, year after year, Minister Noonan ignore the advice of the Revenue Commissioners and his own stated belief that 'the high price is now giving rise to massive cigarette smuggling' by massively increasing the price of cigarettes by 50 cent."
He said that the retail sector, the Revenue Commissioners and even the "dogs on the street" can see that "the government’s projection of raising an extra €61.4 million from this price increase is pure fantasy economics."
© 2015 - Checkout Magazine by Stephen Wynne-Jones