Budget 2018 must create a more competitive Ireland
Rising rents and house prices forcing wage demands
Costs impacting significantly on the SME sector
With today’s release of the National Competitiveness Councils (NCC) finding on the Cost of Doing Business in Ireland, ISME, the Irish Small and Medium Enterprises Association calls on the Government to act on its findings. The Association says Ireland must become more cost competitive, particularly in light of Brexit. Budget 2018 presents an opportunity for Government to reduce business costs.
Commenting on the report ISME, CEO Neil McDonnell said“The findings by the NCC provide a stark warning for Government, particularly in light of Brexit. We must reduce the cost of doing business. Brexit presents a real threat to our indigenous economy and our exports sector in terms of competitiveness. The rise in commercial and residential property prices, and the cost of finance for SMEs are major causes of concern.”
“The rise in the cost of living is having a major impact on wage demands across sectors. This poses a serious threat to our recovering economy. These findings must take priority with the Department of Finance and the Department of Public Expenditure and Reform in budget 2018”
The Association called on the Government to:
Ensure that all state-influenced business costs are benchmarked internationally.
Fully endorse the findings of the NCC report in Budget 2018.
Address the costs over which they have influence; rents, construction costs, energy, telecoms, transport, insurance and exorbitant legal fees.
Use the tax system to facilitate and promote job creation.
Reduce public sector costs through targeted private sector outsourcing
“If we fail to listen to these findings, we will repeat the same mistakes that led to the crash of 2008. These were disastrous for our society, economy and our people. We call on all party leaders to formally endorse the NCC findings, and ensure they are observed in drawing up Budget 2018”