- Retailers warn of mass closures without lower VAT rates
- Retail Excellence Ireland survey shows nearly half of members unable to cope with rising operating costs
- Factors contributing to rising costs include minimum wage increase, statutory sick pay, high interest rates, tax debt, and supply chain issues
- Retailers need significant financial support, specifically on VAT, to avoid mass closures
- New EU rules requiring firms to pay invoices within 30 days also a concern
- 83% of retailers have made changes to operating model due to increasing costs
- Retailers believe current economic policies will disrupt their business in the coming year
- Irish Hairdressers Federation also calls for urgent government action to support the sector
- Hairdressers face difficulties with minimum wage increase and paid sick leave entitlement
- Issues with repayment of warehousing scheme, energy costs, stock items, and insurance costs
- Hairdressers need increased support for hiring trainees and tackling the shadow economy
- Government announces interest rate on tax debt frozen since pandemic cut to 0%
- Revenue Commissioners to take flexible approach to repayments
- Ibec to host round table meeting to discuss impact of labor costs and business competitiveness.
Source: rte.ie
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
