Buying Irish is coming into focus like never before as a result of the COVID-19 pandemic. Testament is the support voiced by over two thirds of respondents (68%) to a new Taxback.com survey who claim that they will ‘absolutely’ buy Irish or ‘will try to’ as a consequence of the pandemic. In the latest instalment of their Taxback.com Taxpayer Sentiment Survey Series, the tax specialists asked 2,500 of their customers for their views regarding support for Irish businesses following one of the most challenging years in recent history for certain sectors.
The survey also flagged some trepidation amongst the Irish taxpayer over Ireland’s ability to remain competitive with almost two thirds (62%) worried that Ireland might struggle to remain an attractive destination for foreign direct investment.
Local Support
Marian Ryan, Consumer Tax Manager at Taxback.com, spoke of the findings,
“We’ve witnessed something unparalleled in Irish society with the COVID pandemic, and our economic system has been put under unprecedented strain. As we approach Christmas, one of the busiest buying seasons of the year, there is a real focus on supporting our local and indigenous businesses where possible, in order to help the country get back on its feet and to preserve as many jobs as possible in our cities, towns, and villages. Our survey echoes this sentiment, finding that the vast majority (68%) will ‘absolutely’ support Irish shops, services and products or they ‘will try’ to. However, finances are stretched for many households so, understandably, 20% of people say the price must be “right” or affordable to enable them to shop local.”
Overseas Investment
The Taxback.com survey also asked respondents for their views on whether or not they are worried about Ireland’s renowned ability to attract Foreign Direct Investment, which has created so many jobs.
Ms. Ryan reported on the findings,
“There is a general sense of trepidation out there in terms of how Ireland will fare in its attractiveness to FDI as a consequence of the COVID pandemic. The majority (62%) are worried, to varying degrees about Ireland’s ability to attract new investment”.
Ms. Ryan concluded,
“It’s clear from the survey that the overall mood is one of caution and perhaps an understanding that we possibly need to support our own and to work together in order to begin our recovery.”
