Education standards and high cost base ‘undermining competitiveness’

DECLINING education standards and a high cost base continue to undermine Ireland’s attractiveness to foreign investors, the American Chamber of Commerce in Ireland has warned.

It has also stressed the need for this country to defend its right to a 12.5% rate of corporation profit tax.

The low tax rate helped counter the loss of competitiveness in the economy suffered through higher energy costs (35% above EU average) and other charges that are out of line with competitors, it said.