Cork businessman, Mr Mark Whitaker, says that in his view, Budget 2005 is positive. "It's generally expansionary in nature and that should help stimulate some good demand in the economy," he says.
"The increase in personal allowances, tax bands and the health levy threshold will improve take-home pay and that would be very welcome."
However, from his industry's standpoint, Mr Whitaker says he is disappointed by the fact that Mr Cowen left vehicle registration tax (VRT) and the 13.5 per cent VAT levy on labour unchanged. The motor trade asked the Government to cut both taxes.
"But I was very pleased to see no increase in excise duty on petrol and diesel," he adds.
Mr Whitaker says another concern he has is the likelihood that the Government will impose extra stealth taxes as the year goes on.
In general terms, he says that the Exchequer Borrowing Requirement (EBR) looked high.
"But this year, that has come in substantially below what they have projected and one would hope for a repeat performance on that one," he says.
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