ISME call for parties to outline plans for inflation

ISME, the Independent Business Organisation has called on all political parties to immediately publish their specific proposals to address the inflation crisis in the lead up to the election.

The association was responding to the latest inflation figures, which confirm that the rate of inflation still remains unacceptably high at 5.1%.

According to ISME chief executive, Mark Fielding: "It is quite obvious that there is no current plan in place to address a situation that has been out of control for a number of months, with the consequential impact of higher costs undermining business competitiveness.

"The anti-inflation committee that is supposed to address the issue remains mute and seems to have gone underground. The inaction by the Government in the face of mounting concern and authoritative advice from the Central Bank and the OECD amongst others is contributing to a loss of confidence, which in turn is undermining the economy".

"All the political parties are falling over themselves telling us what they will do with the fruits of our strong economic growth, yet none of them are grasping the nettle of inflation and presenting clear, concise and concrete anti-inflation policies.

"The task and duty of the next Government must be to reduce inflation to below the EU average, thereby giving a boost to our international competitiveness. The starting point must be the long overdue reform of the public sector."