Chambers Ireland welcomes the strong performance of the economy, but Government must remain prudent ahead of next Tuesday’s Budget

Following the publication of the September Exchequer Returns this afternoon (2 Oct 2019), Chambers Ireland welcomes the strong performance of the economy, but calls on Government to ensure that the approach to next Tuesday’s Budget continues to be a prudent one.

Speaking this afternoon Chambers Ireland Chief Executive Ian Talbot says,

“With the ongoing political turmoil in the UK, a No-Deal Brexit continues to be a distinct possibility and Government will require all resources at its disposal to support businesses and the wider economy in the potential fall-out.

The priority of our own network of chambers ahead of Budget 2020 is that the committed investment for capital infrastructure is delivered. We live in uncertain times, but the best way of securing our economic prosperity is to ensure that we are planning for and investing in long-term projects.

We note the continued above-profile performance of Corporation Tax and we call on Government to ensure that these above-profile receipts are transferred to the Rainy Day Fund, that can be used to buffer against unforeseen challenges for the economy.

Credit must be given to the continued strong performance of the Irish economy. However, the coming months could pose many challenges. Complacency must be avoided and prudence maintained.”