Budget 2022: Dublin Chamber welcomes extension of business supports and childcare fee freeze

+ Phased withdrawal of supports provides certainty to impacted businesses
+ Business group welcomes incremental progress on childcare as ‘long overdue’

Tuesday 12^th October: Dublin Chamber has welcomed the extension of business supports including the Employment Wage Subsidy Scheme (EWSS) and measures to ease the cost of living for staff in Dublin announced in Budget 2022.

The business group, which represents 1,300 firms across the Greater Dublin Area, said the budget includes a wide range of steps to address areas of concern to businesses.

Speaking following the announcement of the Budget this afternoon, Dublin Chamber’s Head of Public Affairs Fergus Sharpe said: “While there are few ‘big bang’ measures in this budget, it will make tangible progress on a broad range of challenges facing the business community. That includes public transport, flexible working, childcare costs, housing, and the environment for entrepreneurs.”

Dublin Chamber particularly welcomed the extension of the EWSS to the end of April 2022 and the publication of a schedule of planned reductions to provide certainty for businesses and allow for financial planning.

Dublin Chamber’s Head of Public Affairs Fergus said: “Avoiding a cliff edge to supports was crucial to ensure that businesses impacted by Covid-19 are given a chance to survive and to recover from the collapse in revenue which many have experienced. A phased withdrawal of EWSS is important as it will allow for financial planning. The extension of the 9% VAT rate and targeted commercial rates waiver will also come as a welcome relief to impacted companies.”

Childcare and Flexible Working

Dublin Chamber warmly welcomed the childcare package announced in Budget 2022, describing it as essential to alleviate the growing financial burden on working parents. Minister McGrath promised a major investment in the sector next year in exchange for a commitment not to further increase fees.

Mr Sharpe said: “A childcare package of this kind is long overdue. It should be seen as an investment in both the economy and society. Investment in childcare is essential to improve affordability for parents while also providing much needed funding to childcare providers. The affordability of childcare is a burden on many working parents and has negatively impacted female labour participation, the availability of staff, and family wellbeing. The effective freezing of childcare fees among many providers is a very welcome step, however incremental. More investment is needed if we are to reduce childcare costs and achieve a more sustainable and diverse labour market.”

Dublin Chamber also welcomed the announcement of an income tax deduction amounting to 30% of the cost of vouched expenses for heat, electricity and broadband incurred while working from home. Mr. Sharpe said: “Taken together, these two measures represent a great first step in supporting flexible working and tackling the cost of living pressures that affect staff in the Greater Dublin Area.”

- Ends -

Note to Editors:

Dublin Chamber’s submission on Budget 2022, is available here on the Chamber website, along with other recent submissions.

For further information please contact:
Róisín McAtamney | Public Relations Executive | Dublin Chamber | roisin@dublinchamber.ie