Ibec: Ease budgetary adjustment

The Government should ease up on the budgetary adjustment by €500m this year and rule out any further tax increases, according to Ibec in its pre-budget submission.

This would help boost domestic demand and provide a platform for much needed growth, it added.

The Government plans a fiscal consolidation of €3.1bn this year and €2bn next year in order to bring the budget deficit back within the 3% limit by 2015.