Failing to invest in infrastructure projects now significantly increases the cost of delivery borne by future generations, Dublin businesses warn.
Dublin Chamber has called on Government to use Budget 2025 to increase investment and accelerate delivery in major capital projects such as public transport, water infrastructure, energy, and housing.
In its pre-Budget 2025 submission, Dublin Chamber is calling for a simplification of the enterprise tax system by cutting Capital Gains Tax for investments in unquoted actively trading SMEs from 33% to 20%.
“Housing continues to be a major blockage for recruitment and retention for members”
Delays in capital investment as well as the enduring housing shortage are hurting businesses’ opportunities to grow and create jobs, warned Dublin Chamber CEO Mary Rose Burke.
Growth blockers
“Housing continues to be a major blockage for recruitment and retention for members. Increasing the supply of homes in the GDA is critical for residents, businesses and investors,” she said.
“The Residential Zone Land Tax must continue to be reviewed so it can be used to activate more land that is zoned and serviced for housing. This must be reinforced with a commitment to servicing those areas with key infrastructure such as water, wastewater, public transport, energy and childcare as to not cause any delays in getting much needed housing on stream.”
Burke said that delays in major capital investment in infrastructure such as Uisce Eireann’s Eastern and Midlands Water Supply Project as well as the Greater Dublin Drainage Scheme, Metro, DART+, and Busconnects are holding Dublin back.
“Due to the failure to address the lack of housing which includes years of pent-up demand, it is therefore necessary that the Housing for All target is revised to a minimum of 53,000 units per year with half of these delivered within the GDA”
“Access to childcare is critical for the planning of capital investment delivery and is essential that housing development has access to this. In order to keep the momentum from previous Budgets addressing the cost of childcare, Dublin Chamber is calling for a further reduction in the cost of childcare by increasing the universal subsidy under the National Childcare Scheme from €2.14 to €2.70 an hour. While committing developing more childcare facilities and increasing capacity.”
“The Government has seen unprecedented returns in terms of tax revenue, this must now be used to invest in the future, on major capital investment that will bare fruit in the years to come,” Burke urged.
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