What business groups want from the next government

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Business lobby groups have set out their wish lists ahead of GE2020 - so what do businesses want from the next government? Brian Finn takes a look

However, there is an awareness that storm clouds are gathering on the horizon with Brexit still having the potential to turn sour as negotiations resume on the future EU-UK relationship.

"Costs have increased in recent years with the transfer of water and waste services to Irish Water and private commercial waste services."Both the Irish Small and Medium Enterprises Association and the Small Firms Association have put tackling insurance costs at the top of their lists. Both are seeking measures to combat the rising cost of premiums, as well as the measures to scale back the substantial increase in public liability and related legal costs.

The good news for the business community on this particular measure is that they have broad support from the public who are feeling the pinch of increasing insurance costs on their motor insurance in particular. And the political parties have been responding with robust proposals to tackle this issue.

Among the Fine Gael proposals are a commitment to cut the cost of insurance by extending the transparency of the claims database to cover public/employer liability insurance. It also says it will make perjury a statutory offence.They are essentially the financial contribution that businesses make to the upkeep of the local community.

"Costs have increased in recent years with the transfer of water and waste services to Irish Water and private commercial waste services."Capital Gains Tax is the tax charged on the profit, or capital gain, made following the disposal of an asset or a transfer of ownership of an asset by way of a gift or exchange. The tax is levied at a rate of 33%.

Chambers Ireland calls for the lifetime limit to be raised to €10 million, while the SFA is seeking a limit of €15 million. "All the parties support equalising the position of self-employed and PAYE workers by equalising the Earned Income Tax Credit and PAYE tax credit at €1,650 per annum," Mr Lynch said.Another rare point of harmony between political parties and business lobby groups. There's unanimous support for the 12.5% corporate tax rate, but parties differ on the points of implementation of the tax.

The Social Democrats want to see a "sunset clause" being introduced on how long banks can offset losses against their tax obligations. Ibec says the incoming government must respond to the challenges of global tax reform by providing certainty on the 12.5% rate and improving innovation supports, such as the Entrepreneur Relief and Research and Development tax credits.

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The only condition they should be looking for is an end to subsidies, in all forms! GE2020

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