Chambers Ireland has today urged Government to prioritise a budget that reduces the cost pressures facing businesses and unlocks faster delivery of the infrastructure needed to underpin competitiveness.

Speaking after the publication of the Summer Economic Statement which reveals that the 2027 budget package will include €8.5 billion in additional spending and a tax package, Chambers Ireland CEO Ian Talbot said that fiscal prudence and strategic investment must go hand in hand.

“The challenge now is to ensure that the Summer Economic Statement translates into a Budget that strengthens Ireland’s long-term economic capacity and resilience,” Ian Talbot said.

The CEO noted that businesses are facing sustained increases in energy, labour, regulatory and operating costs, while infrastructure delivery is not keeping pace with the needs of a growing economy.

“Budget 2027 must therefore focus on measures that reduce cost pressures, accelerate delivery, and support investment, employment and regional growth,” he urged.

Chambers Ireland warned that rising energy, labour, regulatory and operating costs are a threat to Irish businesses, while the pace at which the State delivers infrastructure of strategic national importance is too slow.

“Taken in combination, rising costs and infrastructure deficits are creating a competitiveness challenge that must be unlocked,” it said in a statement.

“Competitiveness isn’t an abstract economic concept; it is what determines whether businesses choose to invest, expand and create jobs. As departmental negotiations ramp up between now and Budget Day, we need to ensure that the focus is on spending and taxation measures that will have the greatest long-term impact on our economy,” Ian Talbot said.

Chartered Accountants Ireland

Chartered Accountants Ireland said the Government should strengthen Ireland’s tax competitiveness by addressing the impact of fiscal drag, reducing unnecessary compliance and ensuring the tax system supports work, investment and enterprise in an increasingly uncertain global environment.

Cróna Clohisey, Director of Members and Advocacy, said that Budget 2027 is an opportunity to protect and strengthen Ireland’s strong economic position by enhancing competitiveness, making it easier for businesses, particularly SMEs, to operate and grow, and reducing unnecessary complexity within the tax system.

“It is encouraging to hear in media this morning that Government is ‘positively disposed’ to examining bands to combat the effects of inflation,” she said.

“When tax bands and credits fail to keep pace with inflation, this creates challenges not just for workers but for employers too, particularly SMEs, who are under increasing pressure to deliver higher wages simply to maintain take-home pay. A long-term commitment to a more competitive income tax regime supports both our indigenous businesses and our multinational sector,” she added.

Deloitte Ireland

Daryl Hanberry, Tax & Legal partner in Deloitte Ireland, has today called for a €6,000 income tax band increase over the next three years.

He said the critical point that we can not afford to lose sight of is that not all spending is the same.

“While current expenditure does need to be curbed, Ireland must continue to invest and spend on capital projects,” Mr Hanberry said.

He said the proposed €8.5 billion package for Budget 2027 currently appears to do that, which he described as “positive”.

“The indications of a personal income tax package in Budget 2027 are also welcome. In Deloitte’s pre-budget submission, we advocated for an increase to the standard rate income tax band of €6,000 over the next three years to bring it to €50,000, there was none last year and it would be positive to give taxpayers a medium-term plan,” he said.

“As wages have grown, the rate of income tax hasn’t moved accordingly. Average earnings in Ireland are currently taxed at the highest rate. Increasing the income tax band by €2,000 in Budget 2027 would cost around €505m – just under 6% of the whole package,” he noted.

“However, if the intention is to also make changes to the income tax credits, this will push the income tax package over the €1 billion mark and leave little wriggle room within the total €1.5 billion tax package for other tax measures,” he added.

Cantor Fitzgerald Ireland

Irving Byrne, Head of Wealth Management for Cantor Fitzgerald Ireland, said that after being overlooked in Budget 2026, renewed commitment to review income tax bands is a much-needed step in supporting the financial goals of thousands of hard-working people.

“We also believe that inheritance tax reform, signalled in interviews by Minister Chambers but not specifically referenced in SES, warrants Government action,” Mr Byrne said.

“Existing thresholds have failed to keep pace with the significant appreciation in residential property values, creating inequitable impacts on wealth transfer for many ordinary families. We look forward to further clarity on this in the lead-up to Budget day,” he said.

“Fair and balanced tax reform plays a vital role in supporting long-term financial health and wealth creation in Irish households,” he added.