PPF is 'too rigid' - ESRI

The Economic and Social Research Institute has called for more flexible pay deals between the social partners.

The Institute claims in its quarterly report issued this morning that the Programme for Prosperity and Fairness is "too rigid".

It has also criticised the new national savings scheme for not linking savings with wage-bargaining.

However, ESRI economist David Duffy said the slowdown in economic growth from last year's unsustainable 10% is welcome.

The current growth rate is around 6.7%.