IFA president urges 20% cut in cost base to stabilise the economy

A 20% CUT in the cost base was urged yesterday by Irish Farmers’ Association.

IFA president Padraig Walshe said immediate action to restore competitiveness in export-led sectors was just as critical as dealing with the public finances in the current economic crisis.

“All the indicators pointed to a minimum 20% cut in costs, including labour costs, to prevent massive job losses and the transfer of our food manufacturing industry to Britain,” he said.