CEO Update: Securing Ireland’s Economic Future
Following the awful incident at a school in Dublin city centre, a small group of individuals intent on causing mayhem, rioted, looted and brought public transport to a standstill. Ibec strongly condemns this abhorrent behaviour. We stand in solidarity with those businesses impacted most and extend our support and gratitude to the frontline workers in the Gardai and first responders.
We continue to think of the children and their carer who were at the centre of the horrific attack. For the business community and wider society, the need for social cohesion has never been more apparent. Ibec is committed to playing our part leading the conversation from a business perspective.
Addressing Cost Competitiveness Issues
As you know, businesses are facing several concurrent and substantial changes in the labour market in coming months and into next year. Along with the announcement last week to increase PSRI and statutory sick pay, businesses will face a rise in the minimum wage, the introduction of auto-enrolment for pensions, the right to request remote work, new Revenue reporting requirements, and enhanced protective leave entitlements related to parental, medical, and domestic violence – all of which will create significant costs. Our message is clear, Government needs to better coordinate labour market regulation and cost factors and limit any further cost competitiveness measures which could threaten business viability and employment.
These messages have featured in our extensive media engagement over the past number of weeks, most recently an opinion piece published yesterday in the Irish Examiner by our Chief Economist and Head of National Policy, Gerard Brady.
Furthermore, we continue to convey our concerns to the Government through LEEF, the SME & Entrepreneurship Taskforce, the Retail Forum and other meetings with ministers, civil servants, and the opposition. We are actively lobbying to ensure cost competitiveness is a central theme in upcoming election manifestos.
S in ESG Summit
This Thursday, Ibec is hosting a half day Summit at the InterContinental Hotel in Dublin focussing on social sustainability and the future of corporate leadership. We will be joined by senior business leaders, all of whom are experts on the topic and Professor Mark Kramer, Harvard Business School. More details about the event can be found here.