•    More expenditure cutbacks in public sector and social welfare and less taxation are key to recovery.

•    No increase in PRSI or Sick Pay schemes.

•    The introduction of a state investment bank critical for SMEs to access finance.

•    Incentives for SMEs will create jobs and speed up recovery.

ISME, Friday 16th November 2012.

In its pre-budget submission issued today, (Friday 16th November), ISME, the Irish Small & Medium Enterprises Association, called on the Government to implement a 75/25 ratio between expenditure cutbacks and revenue raising measures instead of the 65/35 already proposed. It is obvious that the process of fiscal consolidation and austerity has had a more negative impact on economic activity than it originally envisaged. Read the rest of this entry »

•Government proposals the ‘final nail in the coffin’ for retail sector.

•Cross border shopping boosted by illogical proposal.

•Economic illiterate politicians taking desperate measures to avoid hard decisions.

 ISME, Monday 21st November 2011.

ISME, the Irish Small and Medium Enterprises Association, has warned the Government against increasing the higher rate of VAT and in repealing the retail planning guidelines, which will create a retail desert landscape across the Country. The Association outlined that smaller retailers were already at ‘tipping point’ and VAT increases, together with allowing huge multiples to breach current planning guidelines would signal the death knell for the indigenous retail sector. Read the rest of this entry »

•The Association cautions against exceeding the €3.6bn budget adjustment.

•ISME advocates cuts in public sector and social welfare over taxation increases.

•No increases in income or indirect taxes, including VAT.

•The introduction of a state investment bank critical for SMEs to access finance.

•Address unemployment by offering immediate financial subsidies to employers.

•Tackle the black economy through targeted tax credits.

•Implementation of cost reduction recommendations rather than more reports required.
ISME, Friday 21st October 2011.

In its pre-budget submission issued today, (Friday 21st October), ISME, the Irish Small & Medium Enterprises Association, called on the Government to address the budget deficit primarily through cuts in public sector and social welfare expenditure, rather than additional taxes, which would hinder economic performance. The Association outlined that to go beyond the €3.6bn budgetary adjustment would be counterproductive and would only stall future growth potential. The emphasis needs to be on introducing confidence and certainty in an attempt to kick start a fragile economy Read the rest of this entry »

‘SECURING A BETTER FUTURE’

• Realistic reduction of deficit must start with current expenditure cuts.

• Association warns against implementing excessive income tax increases.

• Supporting enterprise, addressing public sector and social welfare reform a prerequisite to stimulate future economic growth.
In our pre-budget submission issued today, (Friday 22nd October), we outline the critical importance of decisions taken in this year’s budget to address the exchequer deficit and to create some economic certainty and in the process raise both business and consumer confidence. The Association advises that the adjustments and savings must come from cuts in current expenditure. It would be detrimental in the extreme to depend on increased taxation, particularly income taxes, which act as a deterrent to employment, reduce spending and slow economic growth. There is a strong argument to widen the tax base and introduce measures such as water and property charges that will provide an element of certainty to future tax revenues.

This year’s Budget will be the first in a series of harsh budgets and a balance must be struck between raising taxes and cutting costs. It is imperative that the Government does not further dampen already reduced domestic demand, by excessive increases in income tax. With exchequer finances in a mess, there is absolutely no option but to cut costs and the two main costs are the public sector and social welfare. By increased public sector efficiency we should be able to get “more for less” and not as heretofore, where we got “less for more”. This means cutting the public sector pay bill, numbers employed and addressing inefficiencies quickly. A reduction in employment related social welfare is also essential to save money and increase the replacement ratio. Read the rest of this entry »