‘Lots of scope’ for pay rises in private sector

The Irish Congress of Trade Unions has claimed there is, what it described as “considerable scope” for increasing pay in the private sector as it reiterated its call for basic pay rises of at least €1,000 or 4% for all workers in the sector.

In a bulletin, ICTU pointed to four reasons for the claim: The general level of earnings in the economy and the share received by workers; projected increases in rates of price inflation; projected increases in productivity; profit levels in private sector companies.

“Based on the available evidence the Congress Private Sector Committee believes that there is considerable scope for increasing pay, in the private sector. Achieving the rate of increase suggested will protect the living standards of workers, increase their spending power and give them a fairer return for increased productivity,” it said.