Black economy costing €22.5bn

THE black economy could cost the economy €22.5 billion this year and is threatening legitimate business, it has been claimed.

The Irish Small and Medium Enterprise Association (ISME) has called on the Government to take a tougher approach to what it terms the “dramatic increase” in the black economy here.

Chief executive of ISME Mark Fielding said rogue operators were destroying legitimate businesses and threatening the livelihoods of business owners and employees across the country.