IBECs Budgetary Submission for 2014 Proposed adjustment from 3.1bn to 2.6bn 2.0bn expenditure adjustment + 0.

0.6bn to be carried forward. They believe that Ireland are on course to achieve a budget deficit below the official target Labour Costs Insurance Premia are driving up labour costs in recent years, 70% of members are covering employees health insurance Against the introduction of statutory sick pay + adjustment of pricing of private beds. Home Renovation Scheme Grants for 20% of renovation costs, between 2,000 and 20,000 3year scheme +600m output 60m-80m net for the exchequer Reveals taxable areas of the hidden economy and rewards tax compliant workers Research and Development Review Issues with base year Uncertainty regarding the claims process Proposed development of a credit lite system for SMEs, who dont have the administration requirements. Enhancing Investment Environment Increasing CGT from 20%-33% from 2008-2012, this is too high Increase in CGT lifetime cap EIIS Relax the restrictive nature (high earners restriction to be removed also) Personal Insolvency act 2012 is an improvement Existing supports, for hospitality and related sectors Lower employment PRSI has had gains for the exchequer.