Ryanair CEO O’Leary Calls Hospitality VAT Cut a Scam

Here’s a summary of the article:

Ryanair CEO Michael O’Leary has criticized a planned VAT cut for the food service sector (cafes and restaurants) in Ireland, calling it a “scam.”

Here are the key points:

* VAT Cut: The Irish government ⁤is planning to reduce the VAT rate on food service businesses from 13.5% to 9%.
* O’Leary’s Argument: O’Leary believes this VAT reduction won’t benefit consumers, as businesses will simply pocket the savings instead of lowering prices.
* Cost to the Government: The VAT reduction is estimated to cost the government €674.6 million.
* Overall Budget: The government is planning a €9.4 billion budget package, including €1.5 billion in tax reductions and €7.9 billion in additional spending.