11 Oct - Dublin publicans describe Budget 2017 as a reasonable outcome
Dublin publicans describe Budget 2017 as a reasonable outcome
But say fears over Brexit and devaluation provide strong case for cut in excise
Tuesday 11th October 2016. The Licensed Vintners Association, which represents Dublin publicans, has described the maintenance of the status quo on excise and the continuance of the 9% VAT rate for the hospitality sector in Budget 2017 as a reasonable outcome for the trade.
But the LVA, which represents over 600 publicans which employ over 10,000 people said the threat which Brexit posed to the sector should not be underestimated.
The Chief Executive of the Association, Donall O’Keeffe, said the rapid devaluation of sterling in recent weeks was a stark reminder of what the future might hold and meant there was a strong case to be made for a cut in the excise rates on alcohol.
“The UK is our most important tourist market with a massive 1.2 m visitors last year. If a lot fewer tourists come here from the UK, and those that do come spend less, this will have a hugely detrimental effect on our tourism industry. In that light there is strong justification for a substantial cut in excise. Let’s not forget this country already has one of the highest excise rates in Europe.”
“Given the large scale of our pubs’ food offering we very much welcome the continuation of the 9% VAT rate for the hospitality sector. We also welcome the increase of the earned income tax credit for the self employed by €400 to €950 and we look forward to this being brought up to the €1,650 tax credit which PAYE workers currently enjoy, in the next budget.
Ends.
For further information
Contact Kieran Garry
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01/6650455 or 087/2368366