Chambers Ireland calls for bold achievable reforms to address Ireland’s future competitiveness and quality of life
Chambers Ireland this week unveiled its General Election Manifesto with a focus on reducing the regulatory burden for SMEs, delivering key national infrastructure including housing, energy, water and transport, devolving more practical powers away from Central Government to Local Authorities, as well as greatly increasing investment in our defence and cybersecurity capabilities to future-proof our burgeoning economy.
Chambers Ireland urges the next Government to address fundamental obstacles that hinder business growth and quality of life across Ireland in order to ensure Ireland’s long-term economic stability, competitiveness, and sustainable growth.
Easing Regulatory Burdens on Business – Need for Government to ‘Think Small First’ re our SME Sector
Incorporation of the ‘Think Small First’ principle across all Government departments needs to be urgently prioritised by the next Government. While recent legislative reform of the SME Test promises wider application and broader uptake by Government departments, our SMEs have suffered the consequences of its inadequate application to date, as employment legislation has continued to mount and the regulatory burden has intensified. In light of the increasing strain on businesses due to regulatory complexity, Chambers Ireland is calling for the review and consolidation of all employment legislation in order to ensure greater clarity for employers in understanding their obligations. As a practical illustration, smaller businesses employing less than 50 workers can often be disproportionately impacted by cumulative regulatory schemes making it difficult to sustain growth or reinvest in its workforce. Additionally, Chambers Ireland is calling for the reform and consolidation of taxation legislation. Reforms in schemes such as the Employment Investment Incentive Scheme (EIIS) and the Key Employee Engagement Programme (KEEP) which all have sluggish uptake by SMEs are especially necessary as their current constraints limit accessibility for smaller enterprises. Such measures will simplify compliance, reduce administrative burdens and foster vital SME growth especially as we are so dependent on tax revenues from multinationals.
Global talent attraction
With Ireland at full employment, we need to increase our attractiveness to international talent by rolling-out the single permit system for living and working in Ireland without delay, re-evaluating the salary thresholds for non-EU workers and introducing targeted tax credits and other measures to attract Irish professionals working abroad back to Ireland.
Sustainable Energy Innovation – we need to urgently fix planning and consenting process
Ireland’s transition to green energy requires a more aggressive approach to renewable infrastructure. Chambers Ireland suggests that reforms are still required to streamline the planning and consenting process to expedite wind energy projects and the development of the grid. The allocation of increased funding and resources to support research and development of innovative energy technologies like green hydrogen and biomethane needs to be expedited especially now that we can afford to with our State resources.
Empowering Local Government for Community-Centric Development
Greater empowerment of local government is crucial for improving Ireland’s national delivery capabilities. By devolving more powers to local authorities, especially in areas like housing, transport and community planning, local government can respond more effectively to regional needs. Examples of successful local governance during crises, such as the COVID-19 pandemic, demonstrate the positive impact of community-focused decision-making. Provision of additional funding to revitalise our town and city centres should be expedited. Tackling vacancy and dereliction, investment in the public realm, supports for retail and hospitality, fostering greater social cohesion, financial support for local post offices and improving safety and Gardai resourcing will increase foot traffic and bring visitors back to urban centres.
The next Government needs to scale up our ambition for housing in Ireland with a new plan of action, revised targets and better accountability from all actors. We should be aiming for at least 50,000 houses annually with this serving as a minimum target, as opposed to an optimum threshold. Improving affordability of homes both to buy and rent should be a key priority.
Critical Investments in Cybersecurity and Infrastructure Resilience
With increased cybersecurity threats and interconnected systems vulnerabilities from abroad, Chambers Ireland emphasises the urgent need to develop a national defence strategy and increase investment in defence to protect against the risks posed by external forces to our energy, communications and technology infrastructure. Additionally, the allocation of enhanced funding and resourcing is needed to strengthen our national cybersecurity competencies. This should include specific resources to support smaller businesses in adopting cybersecurity technology to protect against risks faced by their business.
Leveraging Private Deposits for Economic Growth
Ireland holds €140 billion in private household deposits on very low interest rates that earn little for the State and could be better directed toward economic productivity. Chambers Ireland suggests developing tax-incentivised investment channels that encourage these deposits to support more indigenous business growth, infrastructure expansion and green energy projects. This strategy not only boosts economic resilience but also offers more diversified investment options for Irish citizens and the Government.
Speaking at the launch, Chambers Ireland’s Chief Executive, Ian Talbot, emphasised the importance of recognising and building on Ireland’s global success story
“This manifesto outlines ambitious yet achievable goals. We believe that the next government has an unprecedented opportunity to reimagine Ireland’s policy and economic landscape, ensuring that our competitive advantages are preserved and expanded upon for generations to come. Now is the time to act decisively and responsibly. We call for the newly elected government to take a long-term view on our future growth and development opportunities and emphasise the importance of balanced regional development and strategic, future-proofed decisions, including multi-annual funding commitments. The Manifesto serves as a roadmap for creating a thriving, sustainable economy that benefits all citizens and we are calling on all parties to heed the concerns of the business community and guard against complacency. It is not just about protecting today’s success, it’s about improving the conditions that enable growth of indigenous businesses and ensuring Ireland is positioned to seize the opportunities of tomorrow.”
“Our vision for the future is clear: we must invest in infrastructure, reduce the cost of doing business and ensure that our towns and cities are places where businesses can thrive. Forging strong connections with key global partners in the EU, UK and beyond will be essential in strengthening our trade links, attracting investment and addressing shared challenges like climate change and the advancement of technology,” he continued.
ENDS
Chambers Ireland’s General Election Manifesto is available to download here: https://chambers.ie/wp-content/uploads/2024/10/29.10.24_Chambers-Ireland_General-Election-Manifesto_Final.pdf
