Thursday, 13th October 2016 – Joanne Hession, Chairperson of the SME Committee of the British Irish Chamber of Commerce welcomed the CGT announcement by Minister Noonan in Tuesday’s Budget and stated “The Minister’s announcement of a reduction to 10% in the capital gains tax rate that applies to the first €1 million is a further indication of the Government’s support of SMEs and the Irish Entrepreneurs that are the engines of economic growth and employment in this country.”

The UK is Ireland’s largest two-way trading partner – supplying 34% of our imports and taking 16% of our exports. Critically, the UK accounts for some 41% of the exports of our indigenous firms and those are more typically small and medium employers spread right across the country. Joanne Hession stated that ‘This increased incentive to reward these SME employers to grow their business is a positive and welcome move.”

Pat Flood, Chairman of the ICT Sub-Committee of the British Irish Chamber of Commerce, also welcomed and was encouraged by the Minister’s announcement on Share-based remuneration, “Share based remuneration is a complex, but potentially highly effective way to reward employees who stand with their employers in growing businesses based here in Ireland. The announcement by the Minister to develop a new, SME, focused share-based incentive scheme which is to be introduced in next year’s Budget is a notable step forward.”


Media Contact:

Q4PR – Nora Eastwood – nora@q4pr.ie / 0871754149

Martin Mackin – martin@q4pr.ie / 087 814 5030


Editor’s Notes:

About the British Irish Chamber of Commerce

The British Irish Chamber of Commerce is a private sector trade organisation, founded in 2011 to represent businesses and employers with interests in the two islands of Great Britain and Ireland. The Chamber’s mission is to highlight, protect and grow the trade between Ireland, Northern Ireland, Scotland, Wales and England. That trade is worth €1.2 billion a week or €60 billion a year and it supports 400,000 jobs, about evenly between the two islands.