Ibec statement on Cabinet's acknowledgement of the excessive cost pressures placed on business

May 15, 2024

Ibec, the group that represents Irish business, acknowledged the enterprise package announced by Government today.

Danny McCoy, CEO of Ibec, said:

"Through our cost competitiveness campaign and engagement with the Government, we have been highlighting the impact that increased labour costs are having on businesses and the unrealistic burdens they face.

We note the Government’s response and the commitments across several areas highlighted in our campaign as recognition of these cost challenges. We look forward to the implementation of a commitment to keep the threshold for the higher rate of Employer PRSI above the Minimum Wage, a renewed commitment to unlock the National Training Fund and the announcement of reviews of the implementation of changes in Statutory Sick Leave and future changes in our work permit regime.

We hope that today’s announcement by Government signals a new approach to addressing the very significant competitiveness pressures facing business and look forward to further material delivery on the commitments made today in Budget 2025.”