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flag 2019-21 job losses and potential €1B tourism revenue drop predicted in Ireland's food services sector due to VAT hike from 9% to 13.5% and rising employment costs.

flag A report from Dublin City University highlights a "commercial crisis" in Ireland's food services sector, worsened by a VAT hike from 9% to 13.5% and rising employment costs. flag The average profit margin has plummeted from 7.2% in 2019 to 1.9%. flag The findings predict a potential €1 billion drop in tourism revenue and 21,000 job losses unless the VAT rate is reverted to 9%. flag Industry groups urge the government to act to prevent further declines.

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