Retail Ireland Monitor January 2024

In Ibec’s latest leadership sentiment the increasing cost of doing business is the single most significant challenge for business. This is hardly surprising. A raft of new labour market changes, including a 12% minimum wage increase, is putting intense pressure on many retail businesses. We are calling for an immediate pause in all further labour market policy measures, the publication of a full impact assessment on business and a new ‘Competitiveness Charter’ setting an annual ceiling on additional labour market costs. Major cost hikes is already leading to job losses and business closures. Urgent action is need to arrest this trend.