O’REILLY WELCOMES RETENTION OF 9% VAT RATE IN BUDGET 2014

Fine Gael TD for Cavan and Monaghan, Deputy Joe O’Reilly, has today welcomed the news in Budget 2014, that the special 9% rate of VAT will be retained. This 9% rate applies to tourism-related services, including hotel and holiday accommodation, various entertainment services, the use of sporting facilities, hairdressing services and various printed matter.

Speaking after Minister Noonan made the announcement, during his Budget 2014 speech this afternoon, the Deputy said ‘I was delighted to hear that the special 9% VAT Rate is to be retained, under Budget 2014. . Fine Gael proposed reducing the 13.5% VAT rate by 1.5% before the 2011 general election and this proposal was subsequently included in the Programme for Government in March 2011. As part of the Government’s Jobs Initiative, it was decided to introduce a more targeted VAT reduction of 9% for the period from 1 July 2011 to 31 December 2013.’

‘It is clear that this measure was successful and the 9% rate produced growth in the sector and increased jobs. The retention of this rate is excellent news for many businesses in Cavan and Monaghan’ concluded the Deputy.

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Senator Joe O'Reilly representing Cavan & Monaghan 2010. | An ExSite website