Ireland’s largest Business Improvement District, Sandyford Business District (SBID) has released its pre-Budget 2024 submission. The submission has called on Government to address inflationary pressures facing enterprises and to invest in sustainable environmental, transport and digital solutions for businesses to ensure Ireland remains a competitive economy on the world stage.
Detailed in its submission, the organisation has provided a number of recommendations to Government, on behalf of the businesses it represents, including:
- Contributing 25% of excess Corporation Tax revenue for 2023-25 to a ‘Rainy Day’ fund
- Reducing VAT on energy bills and extending tax deadlines to offset rising costs for businesses.
- Prioritise capital spending to enhance sustainable public transport infrastructure to include the Metrolink and its spur to Sandyford and renewable energy sources
- Increasing strategic delivery of housing to foster economic growth through the building of more residential units to support commercial development.
- Develop programmes to upskill and educate the workforce on digitalisation, cybersecurity and coding.
The proposals have been submitted within the context of evolving global economic dynamics such as the impending transition to a minimum Corporation Tax rate of 15%, inflation, labour shortages and climate change.
Ger Corbett, CEO of Sandyford Business District said, “Sandyford Business District firmly believes these proposals will help to bolster the competitiveness of the economy, alleviate inflationary pressures and build the foundations required to secure a strong economic future. As we look ahead amid the changing economic dynamics, we think it is vital for Government to support the economy by fostering an economic mix of foreign direct investment and indigenous SMEs who have all the tools at their disposal to grow. This submission highlights our commitment to making the district a world-class destination for living, working and connecting.”