Media Coverage – August 2024

Irish restaurant closures approach 600 after VAT hike

According to the industry lobby group, Restaurants Association of Ireland (RAI), 577 restaurants have closed in the 11 months since September 2023 when VAT increased. The association compiles the figures using information from the companies’ register and media reports.

Slow payment of Increased Cost of Business grant ‘deeply concerning’ – RAI

The Restaurants Association of Ireland (RAI) has said it is deeply concerning that some businesses are still awaiting payment of the Increased Cost of Business (ICOB) grant. Of the 43,825 businesses that were registered for a second payment, just 26,729 have received that.

Cork city businesses hoping progression and improvement will be high on council agenda

Mike Ryan, Cork chairman of the Restaurants Association of Ireland, and owner of The Cornstore, said that if the Vat rate is not reduced, the “uniqueness” of the Irish food industry will be lost. “The reality of it is that this is making businesses not viable,” he said. “One of the only things that we can actually control is to reduce the Vat rate back to 9%.