Economy needs to recover ‘lost competitiveness’

THE Irish economy needs to recover its lost competitiveness rapidly if it is not to slip into a long period of recession.

That was the stark message to Government from the chairman of the National Competitiveness Council (NCC), Don Thornhill.

His comments followed publication of the NCC’s “Competitiveness Benchmarking Report” which says rising costs have seriously undermined the ability of this economy to compete internationally.