Business chiefs warn ‘political instability’ will place jobs at risk
Pre-election letter says the economy is at a ‘critical point’
Jobs will be lost if the result of the General Election leads to “political instability” or gives a greater sway to fringe elements, the country’s top business leaders have warned in a letter to the Irish Independent.
Executives working with a range of national and international companies have joined forces to ask voters to look at the global economic situation.
With polls suggesting the country could be heading for a hung Dáil, they warn: “Ireland needs a stable government capable of making the right policy choices for the future”. In the letter, the senior business people write that the recovery is at a “critical point”.
They caution against handing “greater influence to populist left political parties and fringe elements that are anti-business and anti-job creation”.
And the businesspeople warn political uncertainty will drive up the cost of borrowing, as has happened in Portugal over recent months.
The respected business people work with companies like Boston Scientific and Janssen.
Meanwhile, businesses have been warned to expect volatility in the value of Sterling in the coming months as the EU ‘in/out’ battle ramps up in Britain.