23rd February 2016
Putting Limerick’s Agenda at the centre of the Election Debate
Limerick Chamber’s Election Manifesto has a list of clear asks for the next government – outlining what is needed for the City-Region to ensure continued economic growth and job creation into the future. Speaking about what Limerick needs the next government to deliver Director of Policy at Limerick Chamber Dr. Órlaith Borthwick says “Limerick has proved itself as a globally competitive and attractive investment location in recent years. Our election manifesto simply calls on the next government to ensure policies are implemented that deliver a foundation from which this region can catapult to future sustainable growth.
“Nationally Ireland’s 12.5% corporate tax rate must be maintained while government must exercise restraint in implementing any policies which increase the cost of doing business. Limerick’s continued successes in attracting new jobs and investment is creating a surge in the demand for residential and commercial properties; Ireland’s next government need to introduce a suite of policies to ensure that an adequate supply is provided. Similarly, social infrastructures such as adequately resourced education, health and Gardaí are integral in supporting Limerick as an attractive place to do business and live” continued Dr. Borthwick.
Investment in energy, transport and communications infrastructure is central in sustaining future growth. At 1.6% of GDP current government spending on capital investment projects falls well below the OECD guidelines of 4%. An increase in strategic investment projects connecting Limerick both physically and virtually is a key priority for Limerick Chamber. “The current level of government under-investment in connecting our region suggests a lack of focus on supporting our future economic growth. This is not acceptable for businesses in the region who require physical and virtual connectivity. Our next government must prioritise funding to ensure the Limerick-Foynes road is delivered; the Adare by-pass is actually built; that monies are made available for the Northern Distributor Route; that the Rosbrien M7/N18 interchange is realigned to allow access to the city centre; that a motorway connects us to our urban neighbours in Cork; that businesses and homes across the city and county enjoy high-speed broadband; that the capacity of our industrial and residential water supply is invested in and increased; and that smarter travel initiatives gain continued financial support”.
Dr. Borthwick goes on to explain why talent will be the key in unlocking Limerick’s future economic potential. “As Limerick seeks to compete internationally for globally mobile talent and investments, our region’s economic potential will be constrained by our ability to attract people to live here. Marginal Tax rates in excess of 50% will deter people from locating here, while our ineffective policies in dealing with the costs of childcare dampen labour market participation rates. Similarly, the inequality in Ireland’s tax treatment of entrepreneurs must be addressed if we are to continue to drive Limerick as an attractive start-up location” concluded Dr. Borthwick.
A full copy of Limerick Chamber’s Election Manifesto is available here
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