BEC tells McCreevy budget restraint needed to restore lost competitiveness

EMPLOYERS’ group IBEC has told Minister for Finance Charlie McCreevy that Ireland needs to regain its competitiveness and that this year’s budget should be not be expansionary.

IBEC president Maurice Pratt told Mr McCreevy at a meeting yesterday that the budget would be a crucial factor affecting Ireland's economic recovery and he urged the Minister to frame a “holding budget”, focused on the need to regain lost competitiveness.

This implies no tax increases and continued discipline in day-to-day spending.