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.
"Budget 2018 must support our efforts to maintain strong markets in the UK, as well as ensuring that food companies in the domestic market remain competitive against imports and the threat of cross-border shopping." Paul Kelly, FDI Director said.
Kelly suggested that in order to this business costs need to be kept under control.
The group also called for the The 9% reduced VAT rate in hospitality to be maintained and in relation to onsumer taxation to reduce alcohol excise by 3.5%.
"To support the wider food, beverage and hospitality sector, the 9% VAT rate needs to be maintained and alcohol excise reduced by 3.5%.” He added.
© 2017 - Checkout Magazine by Donna Ahern