Competitiveness holding steady

The National Competitiveness Council says Ireland's competitiveness has not changed dramatically over the past year.

In a report out today, the council however says the cost of running a business in Ireland is still too high.

According to the NCC, Ireland has the second most expensive electricity prices in Europe, while the cost of borrowing in Ireland is also higher than the EU average.

The council also says that, while taxes on profits and labour are relatively low, recent increases in personal taxes have reduced competitiveness.

The report is first phase of an annual competitiveness assessment due to be presented to the Taoiseach in November.