Fianna Fáil TD for Longford-Westmeath, Robert Troy, has said the implementation of ineffectual policy is hampering small and medium enterprises (SMEs )in the Midlands Region and throughout the country, reiterating that a change in approach is needed.
Addressing the recent annual Irish SME conference in the Citywest Hotel, Deputy Troy stated that despite SMEs employing the majority of people in Ireland, they are greatly hampered by lack of action on the part of the Government.
“I was delighted to have the opportunity to speak at the conference and articulate my views on how well-thought-out policy can assist the SME sector, which is the backbone of the economy.”
“Fianna Fáil have committed to full equalisation for the self-employed with the PAYE credit. The Government say they are committed to this but have delayed and stalled on the matter – we will deliver on this.”
“The Government have also failed to make any changes to Entrepreneurs Capital Gains Tax (CGT ), which puts Ireland at a competitive disadvantage. Just look across the water at the UK. They have CGT relief for entrepreneurial gains of up to £10m, whereas Ireland has a €1m limit.”
“Irish businesses are paying twice what their European competitors are paying for credit. We hear all manner of excuses from the banks as to why they have much higher interest rates, but it’s still not acceptable and it’s harming our reputation as a country in which to do business.”
“The cost of employer liability insurance and public liability insurance is a direct threat to the competitiveness and sustainability of many businesses throughout the country. SME’s, sports clubs, play centres, livestock marts, pubs and bars are all reeling from the hikes in prices and many have had to shut their doors. Tackling the insurance crisis should be a priority for this Government but evidently it isn’t.”
“For the past decade, SMEs have been treated as an afterthought. It’s high time SMEs stopped being overlooked in terms of Government policy”, Deputy Troy stressed.