Dear Chamber Member,
I hope you, your families and colleagues are well.
It was not surprising, but nonetheless disappointing for us all that Level 3 restrictions have been put in place nationwide.
The impact of these tighter restrictions are immensely challenging for us all and are being immediately felt by those operating in food & beverage, hospitality or culture-based venues. Our economy and business community are in a highly vulnerable position now, and nothing short of a consistent and collective effort from all of society, to return to level 2, will ensure we can resume meaningful economic activity for retail and hospitality before Christmas.
SMEs and independent operators are the very fabric of our towns, communities and city and are among the worst affected and most at risk. These businesses are once again faced with incredibly tough financial, operational and HR decisions. In addition, the pressure of the imminent EU-UK withdrawal is now also part of short-term business planning and the layering effect of this along with tightened restrictions could be the breaking point for many companies. In this time of extraordinary uncertainty, Government must offer all assurances to afford businesses their best chance at forecasting the months ahead.
The priorities that Cork Chamber put forward over the past months and in advance of Budget 2021 are critical to ensuring economic continuity for our region, and include:
Cork Chamber priorities include:
- Refinement and extension of EWSS
- Extension of the rates waiver
- A tailored sector-specific approach to business supports
- Support for aviation route marketing and capital programmes for connectivity and tourism jobs
- Acceleration of counter-cyclical investment in key infrastructure projects such as CMATS
- A 2021 tax free voucher increase to €1,000, subject to local spending criteria to stimulate local spend in retail and hospitality.
- Increased support for the Renewable Electricity Support Scheme and anaerobic digestion
- Additional funding for accessible, affordable and high-quality childcare services.
- A reduction in capital gains tax to 25% to drive economic activity
- A temporary reduction in employer PRSI to 5.5% to stimulate job creation and retention
- Simplification and reform of the EISS so it can be used by business owners injecting capital into affected businesses
Many businesses have embraced work-from-home for their teams, and we urge those who can, to return to, or continue with this unless absolutely necessary. The business community undoubtedly needs the backing of extended Government supports but critically, we as a community, all need to work together again. Earlier this year we demonstrated our ability to take responsibility for restricting our movements and we must dig deep again to allow for the easing of these restrictions on our community and economy.
We continue to represent the interests of our members in Cork and advocate locally and nationally for the supports, policies and infrastructure needed to make Cork the best place for business. I welcome your feedback and input so that, together, we can build economic resilience for Cork, email me <HERE> or 087 9471858 or make contact with any of the team at Cork Chamber.
Warm regards,
Conor Healy,
CEO
