Bruton warns wage demands could damage competitiveness

Bruton warns wage demands could damage competitiveness

A new report has warned that the rising cost of doing business in Ireland could damage our recovery.

The Costs of Doing Business in Ireland 2016 Report said that the economy is under threat from a hike in property and insurance prices.

The National Competitiveness Council also stated in the report that wage increases need to be examined.

Acting Minister for Jobs, Enterprise and Innovation, Richard Bruton, said that modest pay rises are fair, but they must be reasonable.

“People will expect that if they are seeing their business doing well, that they will get a share in that, and that’s absolutely right, we aspire to higher living standards,” he said.

“But I think the warning is that we cannot undermine our competitive edge overseas by making either price increases or indeed wage demands that outstrip our ability to improve what we’re offering.”

More in this Section

Michael Gove confident goods delays at ports can be avoided after BrexitMichael Gove confident goods delays at ports can be avoided after Brexit

Heathrow branded ‘massive gravy train’ as Aer Lingus boss slams expansion costsHeathrow branded ‘massive gravy train’ as Aer Lingus boss slams expansion costs

22% of Irish people unable to afford a holiday this year22% of Irish people unable to afford a holiday this year

Hostelworld issues profit warning after disappointing summer bookingsHostelworld issues profit warning after disappointing summer bookings


Lifestyle

Gardaí have issued a warning about a text message scam that is designed to gain access to personal bank accounts.Gardaí issue warning abour 'smishing' scam designed to gain access to bank accounts

Up your veggie curry game with this delicious recipe.How to make Jamie Oliver’s stuffed curried aubergines

Riccardo Tisci has unveiled his Tempest collection, featuring a diverse cast of models.Is this Burberry’s most inclusive campaign yet? See pictures from the autumn/winter shoot

In search of close animal encounters, Sarah Marshall joins ‘Bear Whisperer’ Gary Zorn on a new adventure in Canada’s Cariboo Mountains.Glamping with grizzlies: Would you spend the night camping with bears?

More From The Irish Examiner