Ireland Government plans pre-budget measures for struggling businesses

DUBLIN, Ireland: Finance Minister Michael McGrath says the government is set to unveil pre-budget measures aimed at aiding struggling businesses.

This move follows renewed pressure on presumptive taoiseach Simon Harris to bolster support for small firms.

Fine Gael members advocate for unconventional taxation changes before the budget, such as targeted reductions in VAT and employer's PRSI for hard-hit sectors. Minister McGrath confirmed discussions on these measures, stating, "There is a cost to business... we have already indicated a number of moves that we are prepared to make."

He highlighted increases in the energy efficiency grant and pledged to address the step effect of low employer PRSI rates. The rollout of 250 million euros worth of grants to businesses announced in Budget 2024 is also imminent.

Regarding potential alliances, McGrath dismissed the notion of a transfer pact with Tanaiste Micheal Martin and Simon Coveney. He praised Harris's impending elevation to Taoiseach, emphasizing their productive collaboration and Fine Gael's full support for him.

"We have worked closely with Simon [Harris] around the Cabinet table for the last four years, and, I have been impressed with his work as a minister. Clearly, his colleagues in Fine Gael fully support him, and he will be elected as Taoiseach of the country in two weeks' time."

Acknowledging the importance of inter-party relationships, McGrath stressed the need for government stability to ensure economic certainty. He emphasized prudent resource utilization for home-building and public service investment, aligning with the government's overarching goals.