Employee investment scheme could deliver much needed cash to business – Harrington
Speaking today (Friday) on the Credit Guarantee Bill 2012, Fine Gael Cork South West Deputy, Noel Harrington said the introduction of a tax deductible scheme which allowed employees to invest in the companies they work in, could help alleviate the burden on cash strapped businesses.
“Ireland is not short of initiative, entrepreneurship, guts or hard work. It is, however, short of capital. In seeking to address the cash concerns of business who are finding it difficult to access credit, we need to think outside the box.
“Tax concessions exist for employee share options; so why not offer tax concessions or reliefs to employees of small and medium sized enterprises who want to invest in the companies in which they work?
“Very often, an employee who inherits cash or obtains money from selling property looks to invest in a scheme that offers benefits, such as a pension fund. If the option was available for an employee to invest in the company in which he/ she works, while availing of a tax benefit as if he/ she were investing in a pension scheme, it could be a win win situation for the employee and the business. This would present a situation that was mutually beneficial both the employer and employee, freeing up capital for the further expansion and development of the business.
“Now, more than ever, there is a pressing need for us to be innovative in coming up with ways to assist the business that can create the jobs needed to get our people back to work. An initiative such as this would act as an incentive for employees looking to make worthwhile investments, creating room to manoeuvre for cash starved business.”
Ends.
Information Evening on The Stability Treaty
PUBLIC INFORMATION MEETING
ON
THE STABILITY (FISCAL) TREATY
AT
THE FORGE NITECLUB
CASTLETOWNBERE
ON
MONDAY MAY 21ST @ 9PM
FACILITATED BY:
DEPUTY NOEL HARRINGTON
GUEST SPEAKERS
incl. CEO - SOUTH WESTERN SERVICES: JIM COSTELLO
PLEASE COME ALONG AND
PUT YOUR QUESTIONS TO THE SPEAKERS
90% of Business Leaders Support a Yes Vote – Harrington
Fine Gael TD, Noel Harrington, has said that a new survey which shows 90% of business leaders support a Yes vote in the Stability Treaty Referendum highlights the importance of a positive result in the Treaty for economic growth. The survey, carried out by IBEC, is based on the replies of over 400 CEOs.
“This IBEC survey has made some very interesting findings, and I think it underlines the importance of a Yes vote for businesses in Co. Cork and right across the country. Not only do 90% of CEOs believe a Yes vote is important to the future prosperity of their business, 83% believe it will have a positive impact on Ireland’s ability to attract Foreign Direct Investment.
Rehab Group to Create 750 Jobs – 400+ based in Ireland
Jobs Minister for Jobs, Enterprise and Innovation Welcomes Major Jobs Announcement Wednesday, 16th May The Rehab Group announced today that it plans to recruit 750 staff in its operations over the next three years, with over 400 of those to be based in Ireland.
The Rehab Group currently employs over 3,500 people, with 2,500 staff based in Ireland and another 1,000 in the UK, Poland and the Netherlands.
The new posts arise in the areas of training, education, health and social care, IT, sales and marketing, management and administration.