Related Stories

• Closing date approaches for Cork Innovates Bursary
  
  
• President tastes the delights Ballyhoura has to offer
  
  
• Roche’s Londis Doneraile win national Q Mark title
  
  
• Feargal Quinn appeals for support for his initiative to give a lifeline to struggling businesses
  
  
• At the Northside for Business Conference – Connections That Matter
  
  
• The Beacon Initiative, Grow Programme officially launches in Cork!
  
  
• Batavia make a house a home for customers
  
  
• Charleville company Response Engineering clinches €550,000 deal with Energia
  
  
• Diplomas awarded as Dairygold forge future leaders
  
  
• Tough economy impacting on SME bosses in Munster
  
  
• Busy time ahead for Fermoy retailers
  
  
• Call for paper bag levy by Friends of the Irish Environment
  
  

Retail Excellence Ireland (REI) has expressed disappointment with a number of Budget interventions which, which it says, will damage the Irish retail industry. Photo: 123RF

Retail Excellence Ireland (REI) has expressed disappointment with a number of Budget interventions which, which it says, will damage the Irish retail industry.

A positive is the retention of the 9% VAT rate which will drive employment in the labour intensive hospitality sector. The Retail Industry is Ireland’s largest private industry employing 255,000 people.

One of a number of 'disappointsments' is the increase in the tobacco licencing fee from €50 to €500 per annum.

“It is disappointing that instead of tackling black market illicit tobacco sales, the Government have instead penalised the legitimate and regulated tobacco seller," David Fitzsimons, REI CEO said.

"The tenfold increase in the fee will damage smaller convenience store retailers who have already suffered an exponential decrease in sales. These retailers have compliantly introduced non branded tobacco storage units and have rigorously abided by the law. The illicit trader will be delighted with this intervention”.

Another disappointment is the increase in the pharmacy dispensing fee from €1.50 to €2.50. David Fitzsimons, REI CEO said: “It is clear that the increase in the dispensing fee will lead GMS patients to forgo their prescribed drugs and as a result the health service will be negatively impacted in time. It is our view that this measure will lead 1 in 5 patients to forgo certain prescribed drugs which will have a significant and negative impact on patient health”.

The Government have extended the period that an employer must fund sick pay for an employee from 3 to 6 days. “This quite simply is a further barrier to employment and could in effect drive absenteeism rates,” Mr Fitzsimons said.

blog comments powered by Disqus