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BUSINESS group IBEC has outlined its three-year series of initiatives which could create 25,000 jobs and generate €2.4bn for the Exchequer.

The group said that these ambitious proposals could spark a rise in domestic economic activity by €6bn.

IBEC said that there was desperate need for a reform of pension rules, the introduction of a social welfare smart card system to ensure that €2.2bn child benefit payments are spent in the domestic economy and stamp duty and property tax incentives for first-time buyers.

They also said that if there were tax incentives to encourage additional home renovation activity, this could result in €660m of additional spending in the economy and generate 9,200 jobs.