IBEC regrets breakdown in national pay negotiations

IBEC, the group that represents Irish business, today expressed regret that it was not possible to agree terms with the Irish Congress of Trade Unions (ICTU) on a pay agreement to follow the first phase of Towards 2016.

IBEC director general Turlough O’Sullivan said: “Business is strongly committed to the social partnership model and believes it has served the country well for more than two decades.

"The economy has seen record growth in employment, living standards and remuneration and major reductions in personal taxes. Social partnership has provided stability and industrial peace, which have helped attract significant foreign direct investment.

"Partnership has been flexible and responsive to a variety of economic circumstances since 1987. It has been an effective vehicle for problem solving and has overseen stable industrial relations.

"Ireland is facing the most challenging economic conditions since the late 80s and it requires leadership by government, trade unions and business to put in place arrangements that will help us to regain competitiveness and protect the maximum number of jobs."