Housing, infrastructure and anti-social behaviour among key issues raised by Cork Chamber ahead of Budget 2025 

However, it also noted Cork’s competitiveness as well as its chance to be a leader in green energy, adding that Cork has “the only port in Ireland with planning permission for the critical infrastructure needed to support offshore renewable energy.”

“It is essential that the Government provides the requisite funding for infrastructure to support the renewable energy sector,” said Conor Healy, chief executive of Cork Chamber.

“This will unlock significant economic and social benefits and support the achievement of our climate targets.”

Housing

In what has remained a “pressing concern” for the Chamber, housing has been deemed a top priority in the upcoming Budget, with targets needing to reflect a growing population. 

Citing findings from the Housing Commission, the Chamber has called for 50,000 housing units to be delivered annually across Ireland, an ambition that has gotten off to a shaky start already this year, with Cork needing to produce at least 7,500-10,000 units per year to keep pace with demand. 

To further combat housing shortages, the Chamber is calling for increases to cost-rental income limits, saying hikes from last year remain “too modest.”

In addition, the organisation is calling for measures to enhance the viability of apartment living, including a reduction in the rate of VAT on residential construction to 5%, as well as tax depreciation of 4% per year for apartment developments. 

“The Government must prioritise the reinvigoration of urban areas through targeted measures and supports to encourage city-centre living, promote social cohesion and support economic growth,” Mr Healy added. 

Competitiveness

Cork Chamber has also highlighted the “critical” need to address the “complex dynamics of competitiveness, skills and talent in Ireland,” adding that Budget 2025 strikes a balance between leveraging foreign direct investment and supporting domestic enterprise. 

To further improve competitiveness, the Chamber is calling on the Government to lessen the cost of Ireland’s marginal income tax rate by increasing the point at which workers pay the top tax rate. It is also calling for a reduction in the rate of Capital Gains Tax to “ideally 20%.”

“Concerns regarding the cost of doing business in Ireland and the delivery of housing and infrastructure risk hampering Ireland’s competitiveness at present,” said Chamber President, Rob Horgan. 

“Government must address these concerns in Budget 2025 through targeted measures that support sustainable growth, attract talent and nurture domestic enterprises.”

Infrastructure

Cork Chamber is also urging the Government to consider “the increased cost of delaying decisions on necessary infrastructure projects,” calling for the acceleration of Cork’s light rail and enhancement of intercity rail services.

It is also pushing for strategic infrastructure investment to be prioritised, including funding for BusConnects, Cork City Docklands and the Event Centre, among others.

“Greater alignment between central government, local authorities and the providers of critical infrastructure must be facilitated to ensure the swift delivery of the essential housing supply and long-awaited infrastructure projects that are so vital to growth and resilience,” said Mr Horgan.

Anti-social behaviour

Cork Chamber has also highlighted the “concerning rise” in anti-social behaviour in the aftermath of the pandemic, calling for a re-invigoration of areas that have undergone “significant challenges” in recent years. 

“Delivering vibrant urban centres is essential for Ireland’s economic and social vitality,” said the Chamber, calling for enhanced Garda resourcing and visibility. 

“We must be proactive in ensuring integration, combating tensions and false narratives, and being actively anti-racist. Investing in the evolution of our towns and cities while also addressing issues of safety and social cohesion will ensure Ireland’s reputation as a location for talent and investment.”