Comments on: Darling’s lessons from Irish budget http://dofonline.co.uk/blogs/the-edge/employment/irish-budget-4111224/ Richard Northedge takes on corporate finance Tue, 22 May 2012 05:35:23 +0000 http://wordpress.org/?v=2.5.1 By: Diana Flier http://dofonline.co.uk/blogs/the-edge/employment/irish-budget-4111224/#comment-5905 Diana Flier Tue, 14 Apr 2009 13:20:16 +0000 http://dofonline.co.uk/blogs/the-edge/?p=298#comment-5905 While Ireland opts for short-term pain, it remains unclear just how long it will take for Darling’s strategy to really take effect. Small businesses in particular have yet to gain any real benefit from the VAT reduction and the additional tax relief to businesses making losses, both announced in the Pre-Budget Report. However, a recent survey of small businesses does indicate that tax cuts could provide benefits over the longer term. Reduction of employers’ National Insurance contribution rate and an extension of VAT reduction to 15 per cent for a further 12 months both featured in their top five wishes for Darling’s forthcoming Budget. Whether they will get their wish is up for question, as is how long it will take for the Tortoise to cross the finishing line. While Ireland opts for short-term pain, it remains unclear just how long it will take for Darling’s strategy to really take effect. Small businesses in particular have yet to gain any real benefit from the VAT reduction and the additional tax relief to businesses making losses, both announced in the Pre-Budget Report. However, a recent survey of small businesses does indicate that tax cuts could provide benefits over the longer term.

Reduction of employers’ National Insurance contribution rate and an extension of VAT reduction to 15 per cent for a further 12 months both featured in their top five wishes for Darling’s forthcoming Budget. Whether they will get their wish is up for question, as is how long it will take for the Tortoise to cross the finishing line.

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