Monday 18 December 2017

Cost competitiveness may threaten growth

COMPETITION

Cost competitiveness in Ireland has begun to slip, it has been claimed.

The National Competitiveness Council said this threatens gains made in difficult times, undermines job creation and lowers people's standard of living.

It called for vigilance to ensure the country's international competitiveness does not start to fall back considerably.

Chairman Dr Don Thornhill said the economy was on a much sounder footing for growth than at any stage over the past five years.

But he warned: "We are especially concerned about the very real threat to Ireland's cost competitiveness.

"A range of indicators shows that Ireland has already begun to slip in terms of our relative cost competitiveness.

"Such developments threaten to undermine all of the hard-won progress made to date, puts at risk job creation and damages living standards."

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