After Ministers Paschal Donohoe and Michael McGrath gave their budget speech in Dail chambers this afternoon, BusinessPlus has reaction from marketer Clem Walshe of Localmarketing.ie.

Localmarketing.ie provides business solutions for travel brands, SMEs and international companies in the Irish market.

Have measures announced in Budget 2023 to address spiralling business energy costs gone far enough?

Given the challenging economic climate we’re currently facing, I think the level of energy support being provided is reasonable. I was particularly pleased to see a dedicated SME support being introduced in the form of the Temporary Business Energy Support Scheme. This is a welcome (and long overdue) assist for the SME sector.    

Do you believe that the Income Tax measures announced in Budget 2023 will moderate pressure from employees for a cost of living pay increase?

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Not really, the measures will help to some degree but they won’t go far enough to cover the wide range of cost of living increases employees and their families are faced with in the months ahead.     

From what you’ve heard so far, what Budget 2023 measures please you most, and why?

The increase in the ceiling for the top rate of tax going up to €40,000 and the Business Energy Support Scheme are two areas that will be a great help to the country’s SMEs. This sector has not had anything like the level of support it requires to trade effectively in recent years. These supports will not only help existing SMEs but will also encourage new entrants to the market.   

 What has the Minister for Finance not done in the budget that you would like to have seen him done?

 A tax relief for investors in SMEs and supports for sustainable home and business investments such as solar and other areas that improve BER ratings.

Overall, do you think the measures announced in Budget 2023 are sufficiently pro-enterprise?

I’d like to have seen the introduction of a wider range of supports for the local SME sector, we’re still far too focused on multinationals.  

Do you think Budget 2023 will help make it easier or harder for you to run your business in 2023?

Some of the measures are welcome and will undoubtedly help. Unfortunately, I suspect the ongoing increase in such a wide range of our cost of living and general business overheads will make 2023 a very challenging environment for many businesses.