Commerce Bicc: Agri-Food Sector and John Mcgrane

commerce bicc: John McGrane, the director general of the British Irish Chamber of Commerce BICC said By redirecting 1bn from the larger than expected corporate tax intake into a Brexit response fund, government can shore up indigenous businesses which are most at risk from a disorderly Brexit, according to The Guardian. From the agri-food sector to freight and haulage, SMEs small- and medium-sized enterprises across Ireland will need urgent protection. They want a slice of Ireland's unprecedented 10.4bn 9.4bn corporate tax intake earmarked for business trading in both directions that will be hit by tariffs, delays in Calais and Dover and other challenges in the event of the UK crashing out of the European Union on 31 October without a deal. Ireland has enjoyed what the economist Cormac Lucey recently described as a stupendous corporation tax windfall with higher-than-expected tax without precedent in the history of the state . Earlier this year, the Irish Fiscal Advisory Council concluded that 3bn to 6bn of the 10.4bn corporate tax receipts received in 2018 could be considered excess. It also wants Brexit training for all hauliers and recruitment of more customs agents to support business exporting to the UK in a post-Brexit regime. The BICC said the 1bn should be combined with a series of other initiatives including customs vouchers and training for companies dealing with customs for the first time and temporary exemptions from EU state aid rules to enable government support for Brexit impact companies. (news.financializer.com). As reported in the news.