The Budget would facilitate greater investment in the economy, the president of the Chamber of Commerce of Ireland, Mr Tom Kehoe, said yesterday. But he said he believed the Minister for Finance could have gone further in reducing the overall corporation tax rate from 36 per cent to 32 per cent and in increasing the profits ceiling for the new lower rate of 25 per cent.
"He decided that it should still only apply to the first £50,000 of profits. A more radical step here would have enabled much more reinvestment of profits by small business at relatively little cost to the Exchequer."