Earlier this month, Minister for Enterprise, Trade and Employment, Peter Burke TD, welcomed the €1,035 million budget allocation for his department, emphasising strong support for SMEs, job growth and innovation. Speaking after the budget announcement, Minster Burke also added that the critical infrastructure improvements and incentives will foster long-term economic growth.
Key provisions under Budget 2025 include:
- New €170 million Power Up Grant for businesses announced
- 80 cent increase for National Minimum Wage
- Additional €15.5 million to IDA to focus on regional development and FDI
- €9.7 million to Enterprise Ireland to fund innovative startups and targeted decarbonisation supports
- Expanded Supports for SMEs, including increases in VAT registration thresholds, enhanced tax reliefs for start-ups and family businesses, and an increase in the R&D tax credit threshold to €75,000.
- Increased investment across regulatory offices, including the Competition and Consumer Protection Commission, Workplace Relations Commission, Health and Safety Authority, and other key agencies to meet growing demands and responsibilities.
The Minister has said that this budget reflects the government’s commitment to balancing support for business with fair wages and conditions for workers, ensuring Ireland’s continued competitiveness and economic growth.
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