Safeguarding Ireland's competitiveness: Budget 2024

In this episode of Ibec Responds, Ibec Chief Economist, Ger Brady and Executive Director of Employer Relations, Maeve McElwee sit down to discuss upcoming budget and the far-reaching impact of increasing labour costs for businesses.By 2026 Government plans to replace the national minimum wage with a new, higher living wage.  This will be set at 60% of the hourly medial wages.  Here, Maeve and Ger discuss the lack of urgency in mitigating the potential unintended consequences of what will be an enormous increase in operating costs for many businesses.Thank you for listening. To explore all of Ibec's podcast offering, visit here.  Make sure to follow Ibec Podcasts to stay up to date with new episodes.