Wage increase will cost Irish business - CCI

The Chambers of Commerce of Ireland (CCI) has today called on Minister of State Tony Killeen not to approve the Labour Court recommendation of a 9% increase in the minimum wage level saying it will cost business at least €250,000 per hour.

Speaking this evening, CCI chief executive John Dunne said: "With 57,000 people on the minimum wage this increase if approved will instantly add at least €45,000 onto the payroll of all business.

"This takes no account for the knock-on effect that the increase will have on other wage levels. When this is included, we estimate it will immediately cost business an extra quarter of a million per hour."