The Irish Hotels Federation (IHF) has today called for “urgent actions” to boost economic activity.
The organisation, which is holding its annual conference in Killarney, Co Kerry, is calling for temporary reduction in the standard rate of VAT by 5 per cent over the next six months, an easing of regulation on small and medium enterprises and a ban on all increases in public sector prices and charges.
The IHF said the Government does not have the “luxury of time” to wait for the Commission on Taxation’s report and the public service review before taking action to counterbalance the severe economic conditions.
Matthew Ryan, IHF president, said the immediate priority must be to stimulate activity in the wider economy over the short term and ensure measures are in place that prevent greater levels of economic decline.
He called on the Government to regain control of the public finances” through a number of radical actions” while seeking to boost economic activity, increase competitiveness and generate consumer confidence.
“The tourism and hotel industry is experiencing an unprecedented economic environment with hoteliers facing dramatic reductions in revenue coupled with rising costs,” Mr Ryan said.
“There are significant costs associated with meeting escalating, multi-layered regulations across every aspect of the hospitality business. Whilst these regulations are important, a balance needs to be struck to ensure that businesses are not lumbered with excessive, bureaucratic and unnecessary regulatory requirements.”
