Ibec chief rules out pay increases

Ibec chief executive Danny McCoy has once again ruled out across-the-board pay increases in the private sector while maintaining the need for unions, the Government and employers to formulate an “incomes policy”.

Speaking in advance of his organisation’s CEO conference which begins in Dublin today, Mr McCoy said instead of companies which “remain in survival mode” having to give pay increases they cannot afford, the Government should reduce the tax burden on “hard-working families”.

Under the heading of “incomes policy”, Mr McCoy will tell the 400 business leaders at the conference that now is not the time for any central wage directions. “Many companies, in certain sectors will be in a position to award modest pay rises this year, and this is very good news. However, many companies remain in survival mode and pay expectations need to reflect this reality,” he said.