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Half of firms to increase wages

More than half of businesses in Ireland plan to increase basic employee salaries over the next year, a survey has found.

The report by the Irish International Business Network (IIBN), the only one of its kind, which assesses the attitudes of Irish business people across the UK and Ireland towards the corporate climate and international trade, also found that across the UK and Ireland, business confidence has risen dramatically in the last year, with 81pc of respondents indicating that they were more confident than they had been in the past year.

This rise in confidence is reflected in the financial performance indicators, which show that 77pc of respondents reported an increase in turnover.