Smart economy 'is no quick fix' for jobs crisis
TWO prominent businessmen have sharply criticised the Government's smart economy plan, describing the term as "insulting" and "misunderstood".
Speaking in Dublin, the managing director of Glen Dimplex, Sean O'Driscoll, and the founder of Flancare, JJ Killian, claimed that, while they supported a smart economy in principle, it may leave behind traditional businesses and not create badly needed jobs.
"The term smart economy is divisive because it has connotations of elitism. When we refer to the smart economy, are we suggesting the rest of the world is dumb? I don't think it has been thought through. To me the smart economy is about doing things better and doing more with less," said Mr O'Driscoll.
Mr Killian, now managing director of Ignite Business Solutions, said neither government nor business seemed to understand what the plan entailed.
"Both sides are looking at the smart economy as some sort of silver bullet which will create thousands of jobs quickly, but that's not the case. The scheme means businesses working more efficiently and running a tighter operation. That will lead to smaller companies making bigger profits and then you are looking at a jobless recovery," he warned.