Budget 2027 is Backing Business in Cork

Increased funding, energy supports, and cuts to red tape in Budget 2027 will help support businesses across Cork,  Cork North West Fine Gael TD John Paul O’Shea has said.

Deputy O’Shea said Fine Gael want to ensure long-term certainty for local businesses across the country with these new measures.

“An Tánaiste Simon Harris and Fine Gael want to develop the infrastructure our country needs with faster delivery, less bureaucracy, and better value for every euro.

“In Budget 2027 we are introducing measures to support businesses to thrive and providing the infrastructure we need in Cork.

“We are unlocking €150 million in funding to get workers ready for the AI revolution and expanding the new AI Office with €2.3 million investment.

“We are increasing the threshold for higher rate of Employer PRSI from €552 to €600, saving businesses between €650 to €700 per employee.

“Rural pubs across County need our help, and that’s why we’re introducing a new €15 million scheme to support jobs and benefit local communities.

“A new €1bn Scaling Fund will support Irish small and medium enterprises.

“We are also reducing capital gains tax from 33pc to 31pc.

“We’re also supporting people who want to set up a new business. We’ll do this through funding for new Start Up Ireland to support 1,000 new Irish startup companies.

“To help with fuel costs we’re increasing grant aid for heat pumps with up to 45pc of costs covered, increasing the grant aid for solar thermal installation up to 45pc of costs, and a continuation of the 9% VAT rate on Gas and Electricity.

“We are cutting needless red tape to deliver the infrastructure our growing population demands and have committed to investing €275bn in infrastructure in our National Development Plan. 

“In this Budget, Fine Gael and An Tánaiste Simon Harris are introducing new funding streams to support businesses, taking steps to enhance our economy’s competitiveness, assisting with the green transition, and cutting red tape.

“These measures will be felt on the ground in Cork by our family-run shops, restaurants, and service providers. It will give them the space to reinvest, innovate, and grow.

“Fine Gael are rewarding hard work and helping with the cost of everyday life. These measures in Budget 2027 will support businesses across Cork not just get by, but get ahead,” concluded Deputy O’Shea.