The Minister for Finance says there are currently no plans to reduce the VAT rate for the hospitality sector. Minister Jack Chambers has been visiting Co. Longford today for a budget briefing in Ballinamuck with local businesses, politicians and the Irish Farmers Association. It’s believed the number of restaurants across the country which will close since a higher VAT rate was introduced will be more than 600 in 12 months.
The hospitality sector are asking government to reduce the VAT rate from 13.5% to 9% with some local businesses currently struggling to meet current costs. Speaking to Shannonside FM News, Minister Chambers says a fluctuation in tourism numbers in rural Ireland can be challenging for local businesses:
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