Hugh Friel, managing director designate, Kerry Group
My first reaction is a broad welcome. From a purely financial point of view, it's good for the Minister to come through his fifth Budget without a deficit.
I think he has dealt with a variety of issues in terms of the lower paid and tax and is still coming out at the other end with a small surplus.
I think it is a positive budget and it is good for business. This is a good country to do business in and to do business from. We have low interest rates and low inflation. Ireland Inc is looking good.
Danuta Gray, chief exec, Digifone
At first glance this appears to be a very fair Budget, especially the increased spending in relation to children, the elderly and social welfare. Obviously, Mr McCreevy has less fiscal room in which to manoeuvre this year and has had to be very astute owing to lower Exchequer returns and slowing tax receipts.
Nevertheless, the Minister has managed to take a significant number of the lower paid out of the tax net, reaffirm his commitment to invest in infrastructure and, importantly for business, reduce PRSI rates.
Sean Webb, chief exec, GE Capital Woodchester
It's a clever budget, balanced going into 2002, which will be a challenging year, and there are some positive and negatives in it. The movement on the personal tax bands and allowances should help consumer confidence. The PRSI changes are welcome because they were previously viewed as a tax on employment and the increases in healthcare from a social perspective are to be commended.
The increases in petrol, cigarettes, VAT and drink in terms of competitiveness and inflation could be a worry. We were also looking for a reduction in vehicle registration tax and we didn't get that and that's a disappointment.
Barry Morris, chief exec, IonaTechnologies
Quite a lot of the Budget is good news and, in fact, there is very little of it that is bad news for the indigenous software sector. Some of the elements such as the reduction in PRSI is obviously good news for us.
The most negative element of it is in the area of the corporation tax schedule. Bringing that forward will obviously have a negative cash flow impact for companies such as ourselves.
Overall, there is an increased commitment to spending and an unwillingness to borrow, which is good news for the economy.
Philip Lynch, chief exec, IAWS
There are a number of positive developments in this year's Budget, which I believe will be good for business. The next phase in the reduction of corporation tax will take place with effect from January 1st. Corporation tax will be down to 12.5 per cent by 2003 which is very good news for business.
However, the Minister's decision to phase in the payment of corporation tax on a current year basis will have cash flow implications for business and this is something I think the Minister should reconsider. The reduction in employers' PRSI is welcome, but it has to be said it is a small reduction and only goes half way to undoing the damage of last year.