Latest news

Latest news:

713 new jobs created in Wexford hospitality sector since VAT rate cut

October 6, 2015

Speaking about the launch of the Report and the success of the reduced VAT rate, Adrian Cummins, Chief Executive of the Restaurants Association of Ireland, said that, ‘as this report proves, in terms of creating new jobs in the food and accommodation sector, the introduction of the new VAT rate in July 2011 has been a major driver of local employment growth. 713 new direct jobs have been created in Wexford alone, with 22,300 new direct jobs created across the whole country.’

 

‘This is a very conservative estimate and does not include the number of indirect jobs created in the wider economy as a result of the multiplier effect. When the multiplier effect is included, the total number of new jobs is even more impressive, with 1,041 jobs created in Wexford and 32,558 jobs created nationally.’ said Mr Cummins.

 

The Report entitled ‘9% VAT – Food, Tourism & Jobs – Rebuilding Ireland’s Economy’ uses national employment data from the Central Statistics Office. The Report examines the impact of the introduction of the new VAT rate in July 2011, when it was reduced from 13.5 per cent to 9 per cent for tourism related services and goods.

 

The number employed in the Accommodation & Food Services sector in Q2 2015 stood at 136,700, the gross annual wage bill paid to those employees is €3.17 billion.

 

Source: http://www.wexfordpeople.ie/