We were delighted to welcome Minister for Finance Michael McGrath TD to the launch of our Budget 2024 submission this week.
In our submission we have called on the Government to enhance existing investment and start-up investment incentives as well as broadening the entrepreneur relief. We also called for additional and specific investment to establish a dedicated fund to enable Cork’s 2030 climate neutrality journey. Both Cork and Dublin have been designated as EU mission cities, and defined financial support would help with achieving these targets.
Here are some of our key recommendations:
Extend the Croí Cónaithe Cities scheme to the rental market to improve the viability of apartment development and ensure mixed tenure across all development types.
Index link Cost Rental income limits to account for inflation and ensure cost rental remains affordable.
The focus of the budget should be on increasing capital spending versus increasing current spending, that should be the key guiding principle for Budget 2024 to tackle major infrastructure gaps in the Irish economy.
Enhance the current investment and start-up investment incentives by simplifying the Employment Investment Incentive Scheme (EIIS), relaxing the conditions for relief and improving certainty for participants on qualification for the relief
Establish a dedicated climate neutral cities fund to accelerate our climate transition over the next seven years, investing in key infrastructure such as public transport and renewable energy infrastructure.
Designate Cork as national renewable energy hub and establish a government renewable energy taskforce for Cork to coordinate stakeholders, investment in port, grid and planning to accelerate development.
Increase funding and investment in our third level universities, research institutions and apprenticeships to meet skills shortages and ensure Ireland continues to provide world class graduates, key to continuing to attract local and international talent and FDI.
Continue to expand and improve the Business Energy Support Scheme to mitigate the cost of businesses' operating costs.
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