At the release of the CSO inflation figures for October, today (8th December)ISME, the Irish Small & Medium Enterprises Association highlights the importance of putting more money back into workers pockets in 2017.
There was a decrease of 0.1% in the annual CPI inflation figure for November, while consumer prices in November, decreased by 0.1% in the month.
ISME, CEO, Neil McDonnell said, “2017 creates an opportunity for Government to reduce state controlled costs. Education, insurance, transport and health make up 48% of the overall CPI and this is having an impact on family and worker’s budgets.”
The Association called on the Government to:
Reduce exorbitant insurance, bank interest and legal fees.
Ensure that all state-imposed business costs are benchmarked internationally.
Ensure that SMEs are not hampered by labour, tax or regulatory increases.
Reduce public sector costs.
Outsource more state sector services to SMEs.
“By targeting Government influenced costs in 2017, workers would have more money in their pocket, this is a more viable and credible option economically than increasing public sector pa. The former will benefit everyone, the latter will only benefit the one in seven who work for the state” concluded McDonnell.