Dear Chamber Member,

I hope you, your colleagues and families are keeping well. 

There has been a high level of activity in Cork this week dominated largely by Budget 2024 which will address many of the concerns of business and protect economic development into the future.

While the scheme of business supports worth €250 million is welcome, more will be required to fully support businesses who have been trying to overcome the challenges of increased costs and inflation. Only time will tell if this scheme will be sufficient to have the desired effect or at the very least instill confidence. We will monitor the roll out of this in close consultation with our members to ensure that businesses are being supported.

Budget 2024 has delivered much needed support in areas such as housing, transport, childcare, education, and justice while also addressing the cost of living. Swift action is now needed to implement the measures that have been provided for in Budget 2024, whether that is Housing For All or public transport projects.

The Infrastructure, Climate and Nature Fund and the Future Ireland Fund announced in Budget 2024 will be critical to a sustainable future in Ireland. However, while looking to the future is crucial, a focus is also needed on the here and now. The reality is that we have less than seven years to achieve our climate action targets, that pressure intensifies in Cork and Dublin, two EU Mission Cities tasked with achieving climate neutrality by 2030.  In the short -medium term investment will be required. Support for deep retrofitting of commercial buildings as well as the acceleration of investment in public transport projects are among the measures that must be prioritised if we are serious about delivering on decarbonisation.

Overall Budget 2024 has offered promise and without doubt has put money back into the pockets of individuals and businesses, which will go some way to cushion the blow of increased costs and inflation. However, the response to climate action and our responsibility to deliver on our climate action targets must be approached with far more urgency. Cork Chamber will continue to advocate on behalf of our members and lobby at every opportunity to see this urgency acted upon so Cork can continue to thrive and continue to be an attractive location to work, live and invest in.

Warm regards,

Conor Healy,

CEO