€200m adjustment not €2bn, says Ibec

The Government only needs to make a €200m adjustment rather than a €2bn one in October’s budget, the country’s leading employers’ representative has claimed.

Ibec also predicts the economy has the potential to grow by 3%-4% per annum over the next decade.

In its pre-budget submission, published today, Ibec has said an overly prudent approach would risk missing the opportunity to inject real growth into the economy. It added that Budget 2015 can be the first growth-enhancing one for almost a decade.