Food Drink Ireland Budget 2024 reaction

October 10, 2023

Food Drink Ireland (FDI), the Ibec group representing the food and drink sector, has welcomed the €250 million SME support package announced in Budget 2024.

Paul Kelly, FDI Director said that “over 95% of Irish food and drink companies are SMEs and high levels of input cost inflation (energy and commodities) and substantial government-imposed increases in labour costs (up to 25% by 2026) are impacting on margins, competitiveness, and investment decisions”.

“With the introduction in 2024 of border controls to our largest export market Great Britain further adding to costs, it is essential that the scheme is up and running as soon as possible and that qualification criteria encourages rather than discourages access by SMEs”.