What Business Needs to Know
This is not a normal Budget. This is why Ibec called for big ideas, brave thinking and a bold approach to Budget 2021. The announcement made on 13 October by Government for next year’s Budget is critical for business.
Insights / Budget 2021
- The scale of Budget 2021, the largest in the history of the State, is ambitious but appropriate.
- The planned increase in capital spending is a positive move given the scale of the deficit in both social and physical infrastructure.
- The announcement of the Covid Restrictions Support Scheme, a reduction in VAT, along with extension of the Employer Wage Subsidy Scheme is an important first step in getting the experience economy back on its own feet.
- It is welcome to see increased supports and new labour market activation programmes to support jobseekers.
Analysis / Budget 2021
Ibec’s proposals to enable economic recovery and reimagine the Irish business model
As a country, as a society, as an economy, we’ve always risen to a challenge. The devastation COVID-19 has dealt the world will test Ireland in a way we have never experienced before.
Meeting this challenge will take big ideas, brave thinking and a bold approach – all of which Ibec has brought to bear in our campaign for Budget 2021.
Our key calls to action are:
- Support the economy with a €6 billion package
- Set clear, measurable targets for the National Economic Plan
- Take new actions to help get the country up and running
- Introduce a COVID-19 recovery package for 2020/21
- Diversify and innovate to limit Brexit exposure
- Adopt an ambitious approach to skills, innovation and SME investment
- Ensure the inward and outward FDI model remains competitive
- Invest in quality of life and the low carbon transition
Budget campaign 2021 / Submission document
This document reimagines the Irish business model and will enable the economy to resurge stronger, more sustainable and even more competitive, allowing Irish business and society to thrive
Read the full submission below:Ibec Budget 2021 Submission pdf | 417.4 kb
Webinar / Launch of Ibec's budget campaign 2021
Ibec CEO Danny McCoy, Director of Policy and Public Affairs Fergal O’Brien and Ibec Chief Economist Gerard Brady discuss Ibec’s 2021 Budget Submission.
The submission focuses on five key areas to ensure Ireland’s economic recovery:
- Recovering from Covid
- Getting ready for Brexit – Deal or no deal
- Getting people back to work and promoting SME investment
- Ensuring our inward and outward FDI model remains competitive
- Improving quality of life and the low carbon transition
Related / Ibec campaigns
Our campaign aims to improve people's quality of life by making Ireland a better place to live and work.
The story of the evolution of the Irish business model and the development of substance in the economy.