Irish Exporters Association stated that the Budget was pro-business but did not go far enough.

John Whelan, CEO of the Irish Exporters Association, in welcoming the pro-business aspects of the budget stated that: “This budget is good for the small business sector and those expanding into international markets will welcome the extension of the BES and Seed Capital schemes by a further 7 years up to 2013. This gives continuity to the fund raising plans of many small companies. The individual investor limits increase was well overdue. However, we regret that the Minister fell short of our request to take the BES company limits from €1m to €5m. Exporting companies, planning for any expansion internationally, will require funding greater than the €2m ceiling”.

He went on to say that “Our concern is that venture capital companies are generally only interested in funding packages of 45m and greater, hence leaving an equity gap for fast growing small exporters”.


Budget 2007 Regrets:

Joe Lynch, IEA President, stated that “In a year when exchequer surpluses were at record highs, a major opportunity has been missed by the Minister, to give a wide ranging boost to the capacity and competitiveness of Irish export industry, which has been in decline in recent years”.

”The rising energy costs, under investment in sea ports and wide ranging cost increases in government services, should have been tackled in order to improve the cost base for Irish companies competing internationally”.

He concluded, stating that: “These issues will not go away and will continue to eat away at the engine of economic growth, the exporters of good and services”.

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For a detailedanalyis of the 2007 budget, provided by Mr Tim O'Rahilly of
PWC, please click here

For a detailed analysis of the 2007 budget, provided by Mr Colm Kelly,
also of PWC, please click here
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ENDS

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