ISME: Government has no coherent economic plan

The Irish Small & Medium Enterprises Association (ISME) has today criticised the Government in the face of increasing negative economic sentiment.

The group has warned that unless a clear and concise economic plan was put in place, confidence in the economy, both nationally and internationally, would be further eroded.

“Small and medium businesses are struggling to survive the downturn and the economic uncertainty is killing initiative due to the lack of a clear economic plan,” said ISME chief executive Mark Fielding.

“In stark contrast to the stimulus package announced by the UK government, it is becoming more obvious by the day that, not only does Ireland not have a plan B to address our economic woes, but we did not even have a plan A in the first place!

“To date, the only response has been to increase taxes, the opposite to what other economies are doing. It is absolutely incredible that at a time when our Minister for Finance has been highlighting the threat of shopping across the border, he exacerbates the problem for all businesses by hiking VAT rates, as UK rate drop 2.5%.

“The UK Government at least has the common sense to aid its ailing business sector by attempting to stimulate the economy. The ludicrous response in this country is to do the opposite”.

“Unless the Irish Government starts governing and is seen to lead, the consequences will be more dire than even the most pessimistic analysts have predicted.”