Business Irish

Wednesday 29 March 2017

Ireland not competitive enough, say experts reporters

IRELAND needs to become more competitive as uncertainty faces the world economy.

While some improvements and actions on recommendations of the National Competitive Council have been introduced – the property tax and water charges – there are still changes to be made, particularly in business costs,

Other improvements are necessary to improve the education system and reform of the public sector as well as cash flow to business.

It is also recommending is the speeding up of the revaluation of property across the country and measures to make local authorities more efficient to enable them to lower commercial rates.

It added that removing subsidies for peat generated electricity should also be considered.

According to the NCC,s marginal income tax rates are above 50pc for single individuals earning €32,800 or above.

It says this position "should not deteriorate further" and should be reviewed when conditions improve.

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