Cost competitiveness must see improvement

IDA Ireland moved earlier this week to counter a growing belief the economy was losing out in its battle to win its share of new foreign investment.

Top management said the perception that Ireland was in trouble in that respect was unfounded and chairman John Dunne urged the nation not to be “unnerved” by the recent spate of high profile job losses.

This was very untypical of the IDA. Traditionally IDA chiefs have confined their remarks to the state of inward investment and the kind of changes required to ensure a continuation of that inflow.