PwC pre-Budget 2019 survey reveals confidence among threats

Sep 21, 2018
PwC Ireland has released its annual pre-Budget survey. The results point toward a high level of confidence among Ireland's business leaders ahead of Budget 2019. Those polled pinpoint improving the national infrastructure, reducing personal tax burdens, dealing with the housing crisis to support the labour force and boosting Ireland's competitiveness as key priorities to be addressed on 9 October.

The results of the survey also include calls for measures to support entrepreneurship in the face of Brexit and mixed views on new international tax proposals.

Joe Tynan, PwC's Head of Tax, said: "Reflective of Ireland's robust economic growth, the survey shows a high degree of confidence. However, maintaining Ireland's competitiveness is vital in light of Brexit and other geopolitical uncertainties. The survey highlights the rising cost of doing business, available talent and residential housing as key concerns among the business leaders who participated. As a small open economy on the edge of Europe, ensuring that our economy has the capacity to absorb future foreign direct investment is critical."

Tynan also believes that Ireland needs to demonstrate and broadcast its commitment to international tax reform, which will help keep Ireland at the forefront of mind for businesses looking to locate their operations abroad.

"For Ireland, one of our biggest concerns is how to manage our international tax reputation. As a country, we have been very good at providing an environment where companies can align their intellectual property, employees and profits. However, we need to be careful that we move in line with other countries, not ahead.

"The recent corporate tax roadmap provides greater certainty about the future direction of tax change and builds on strides made toward a fairer and more transparent tax system in Ireland. Our challenge is to ensure that we have a sustainable tax model that provides a level of certainty and stability for business. Ireland has the ingredients to do just that."

Source: PwC Ireland.