Did the Budget smoke risk-takers?

The budget this week had something for everybody, they said. Workers got more disposable income, young children got free GP care, and the tobacco industry got a punch in the face with a 50 cent increase in the price of a packet of lung-busters. That’ll teach them for threatening the State over plain packaging.

One group that claimed to have received very little, however, is entrepreneurs, the often techie types that build or fund businesses that most of us can’t understand before flogging them for millions, if they’re lucky.

The entrepreneurs correctly lambasted the budget for its perceived failure to address higher universal social charges for high-earning, self-employed folk.

The dearth of measures to significantly reduce the relatively punitive capital gains taxes imposed on Irish business sales also provoked a blizzard of online spittle from venture capitalists and angel investors.

As did a perceived lack of workable incentive schemes for start-up activity.

It’s perfectly understandable that investors would want to keep more of the fruits of their success, rather than handing them over to the taxman upon exit.

Incentive schemes and State supports are rather a different matter. As entrepreneurs and investors never fail to remind the rest of us, they are the risk-takers. So take some more bloody risk, then.

Why cry for taxpayers to provide bigger safety nets, either through taxes forgone or bigger grant schemes? The purest of entrepreneurs and their investors should run a mile from the Government, not beg for its help.

Investor types say the punitive regime here means many Irish businesses now choose to set up abroad instead of Ireland.

Coincidentally, the Web Summit, which has its last hurrah in Dublin next month, this week emailed the businesses that registered for its Alpha start-up package to say "an interpretation by the Revenue Commissioners" means Irish start-ups must pay VAT on their €1,950 fee, while non-Irish start-ups don't.

“We just want to double check that you are an internationally registered company, similar to Intercom, which is now quite normal for Irish based start-ups,” the summit said.

Irish start-ups were given a choice between coughing up for refundable VAT, challenging Revenue or transferring their Alpha package to Lisbon for 2016 to avoid the tax.

It’s a dog’s life for these poor old entrepreneurs.