Limerick Chamber calls for a foundational focus on regional competitiveness as part of Budget 2025
Largest business body in the Mid-West are calling on Government for a renewed focus on human capital, housing, transport and renewable energy as part of the Government budgetary process
Limerick, 12 August 2024 – Limerick Chamber has unveiled its comprehensive Pre-Budget Submission for 2025, outlining critical measures to support the Mid-West region’s economic and social development. The submission, entitled “Powering a Competitive Region” focuses on the priorities needed to ensure that the upcoming budget supports regional economies and encourages the growth of more competitive regions. The budget submission reflects the collective voice of over 400 diverse organisations, emphasises the urgent need for strategic investments and policy reforms to ensure a resilient and competitive regional economy.
Key Highlights from the Submission:
- Nurturing Talent & Retention: The Chamber underscores the importance of targeted education and skills development programmes. There is a pressing need for retraining workers transitioning to low-carbon jobs, along with reducing tax burdens on middle-income earners. The Chamber advocates for enhancing public services, including healthcare and policing, to retain talent and make Ireland a more attractive place to live and work.
- Shaping the Built Environment: Addressing the housing crisis is paramount. The submission calls for increased investment in affordable housing and streamlined planning processes. It also highlights the importance of revitalising urban areas through the Living City Initiative and improving transport infrastructure to support regional growth.
- Fuelling the Future: With a focus on energy independence and security, the Chamber emphasizes the need for investment in renewable energy. This includes prioritising Offshore Renewable Energy (ORE) and on land generation. The document stresses the importance of upgrading port infrastructure and aligning local and national renewable energy policies.
As part of its focus, the Chamber advocates for broader support for indigenous SMEs, particularly those not covered by existing funding frameworks. It also calls for a review of Ireland’s supply chains to mitigate potential disruptions, highlighting the opportunity to strengthen Ireland’s position in critical sectors like semiconductors and renewable energy.
Noel Gavin, President of Limerick Chamber, said
“ We be surveyed Chamber members to pinpoint their top priorities for our budget submission. The primary concerns are clear: housing and the cost of doing business. Issues surrounding talent attraction and retention are critical, driven by a lack of housing and childcare as well as other social and infrastructural gaps. The escalating costs of doing business are highlighted by concerns over energy prices, insurance, sick pay, minimum wage increases, and pension auto-enrolment. Additionally, transport costs are significantly impacting the bottom line for businesses that need to move goods. Finally, the issue of policing has become a top priority, underscoring the urgent need for adequate staffing and visible police presence. Limerick Chamber is firmly pressing the Department of Justice for a stronger police presence on our streets “
Seán Golden, Chief Economist and Director of Policy with Limerick Chamber, said:
“ Limerick and the wider Mid-West have no issue in creating jobs and attracting large private businesses to invest to grow the number of jobs available. However, we need to ensure that this ambition for the region is matched by Government through investment in housing and other critical activities. That is why much of our submission is based around competitiveness and how we can support a region that is more competitive on the national and international stage. A critical aspect of this is ensuring greater support for SMEs, but also rapidly advancing plans for renewable energy projects so that we can add a unique value proposition for businesses in the region to have access to 100% renewable energy.”
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