Hospitality Hopes for Budget Support

The hospitality sector is looking forward to today’s Budget with more hope than expectation.

The intense lobby to restore the concessionary 9% VAT rate seemed to have fallen on deaf ears with no leaks about a possible change emerging from the Government parties. However reports on Monday indicated that the subject was still under discussion, and a late surprise could be possible.

The most likely outcome seems to be further supports for the industry under the category of “small businesses” with perhaps concessions on labour-related levies and taxes.

Failte Ireland and Tourism Ireland can, however, look forward to increased funding, which would enable the Tourism Authority to introduce grant schemes, staff development programmes and other incentives. In the light of a difficult 2024 tourism season, Tourism Ireland may also see its funding rise to help it become more active in overseas markets.

All will be revealed when Finance Minister Jack Chambers addresses the Dáil this afternoon, but in light of the widespread leaking of the Budget provision, his address is unlikely to contain many surprises.