NCC calls for Budget to stimulate competition, reduce inflation

The National Competitiveness Council is calling on the Minister for Finance, Charlie McCreevy, to deliver a Budget that will stimulate competition in the economy.

Mr McCreevy will deliver his Budget for 2004 on Wednesday.

The National Competitiveness Council published its annual report this morning, and called on the Government to avoid inflationary increases in customs and excise duties, VAT and publicly administered prices.

Chairman of the council, William Burgess, says the priority should be to slow the growth of prices and costs, and our inflation rate should be kept under 2%, in line with the EU average.

Ireland and Finland are now the most expensive countries in the Eurozone and the council says that there should be greater representation of consumer interests in policy making.