Business leaders fear economic collapse within five years

Business leaders fear the economy is likely to crash in the next five years.

They have issued the warning to the Government in a quarterly survey of director sentiment by the Institute of Directors (IoD) in Ireland.

Brexit is seen as the single biggest risk to organisations in the latest Iod Director Sentiment Monitor.

Irish business sentiment remains somewhat optimistic at 35%, but there is a marked decline in confidence when compared with Quarter 1 and Q2 results.

In the wake of Budget19, 82% of directors of Irish businesses believe another economic crisis within the next five years is somewhat or very likely.

Over half think Ireland's domestic economy and banking system are not resilient or prepared enough for this and 86% say the Government needs to run a budgetary surplus, to act as a buffer against future economic shocks.

The perception of the Government's performance in Q3 is the weakest since the sentiment series began in April 2018.

Digital Desk

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