Speaking at the publication of the pre-budget submission, John McGrane, Executive Director of the Family Business Network, said: “As Ireland begins to emerge from what has been one of the most difficult periods since the foundation of the State, we have a unique opportunity to reinvigorate and reorganise our economy
“Now is the time to seize the opportunity to rebalance Ireland’s economy by supporting indigenous and family businesses which can be found in every town and village in Ireland. Establishing a new state agency for indigenous firms would help reinvigorate the domestic economy and reduce Ireland’s dependence on multinationals. Through the creation of this state agency together with a more supportive policy environment, Irish family-owned businesses can do what they do best – innovate, invest and grow internationally.
“Taxation is another key policy lever to unlock the job creation potential of family firms. There is an ever-growing need to cut Capital Gains Tax in order to unlock greater levels of investment within the domestic economy and deliver a jobs-led recovery.
“Through the measures we’re recommending today, family businesses can be the driving force of Ireland’s recovery. But it is vital that recovery is not obstructed by a failure to address issues like planning reform or by tax increases that could hinder the success of local family firms who employ close to one million people in Ireland.”
Full details of the Family Business Network Budget 2022 Submission can be found here: Family Business Network Ireland Pre-Budget Submission 2022