IBEC issues warning over ‘complacency’

  • IBEC issues warning over ‘complacency’
    Independent.t. E.
    Business group IBEC believes economy will grow by 5.7 PC this year, but warned against “complacency” at the lowest in the country, which offers.
    https://www.independent.ie/business/irish/ibec-issues-warning-over-complacency-37231421.html
    https://www.independent.ie/business/jobs/article36593406.ece/cc617/AUTOCROP/h342/Ibec.INM.jpg

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Business group IBEC believes economy will grow by 5.7 PC this year, but warned against “complacency” at the lowest in the country, which offers.

In its latest quarterly economic forecast, the group said, businesses have found it harder to find the right talent.

Gerard Brady, head of IBEC’s tax and budget policy, said that “there should be more emphasis on funding higher professional and additional education for professional development of existing staff”.

“The next crisis is likely to be different from the last. It is very important that we put ourselves in a strong competitive position, while we still benefit from global tailwind,” said Mr Brady.

“Us tax reform, the prospect of a retreat from global trade and Britain’s withdrawal from the EU will create problems for our economy in the coming years. At the same time, business costs are rising and undermines our competitiveness.

“The budget 2019 needs to address these issues by adopting a focus on the competitiveness of indigenous business.

“Do it, and investment in infrastructure, education and innovation, will be the most effective way to protect the economy from recession.”

The group predicts that the consumer economy will grow by 2.9 PC in real terms.

He said that the economy has moved into a “post-recovery phase” employment and consumption sharing their pre-crisis peaks, and households receiving benefits from income growth.

“In addition, there is little evidence of this consumption is provided due to the excess of the credit boom,” IBEC said.

Housing shortage and high taxation are often referred to as Ireland less competitive than other countries in those areas.

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