IBEC: Competitiveness hit by labour market regulation

IBEC, the employer lobby group, said labour market regulation “has an enormous effect on competitiveness”.

IBEC director Brendan McGinty stressed that any system of administered wages has to function in a way that “underpins employment” for the good of the economy.

“The current system is no longer fit for purpose and should be abolished,” he said. “Many of Ireland’s regulated wage rates are too high by international standards, particularly when compared with the UK, and are a major stumbling block to regaining competitiveness and creating jobs,” he said.