IBEC Have New Plans To Stimulate The Economy

18 July 2012 16:00 - Phoebe Robinson

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IBEC Have New Plans To Stimulate The Economy

The Irish Business and Employment Confederation (IBEC) has come up with some new measures to help the ever falling Irish Economy try and pick itself up. A new state-backed investment bank, a new social welfare smart card system and the setting up of internationally recognised property investment funds are just some of the moves that the IBEC is calling for in its action plan for Irelandís economic recovery announced today. The IBEC has given details of its Action plan for recovery which entails 50 ideas to drive growth. Several of the issues which are addressed in the growth package are based on major reforms and creative investment initiatives which will support job creation, restore domestic demand and deliver better public services.

At the beginning of the year the IBEC launched a recovery campaign for Irelandís economy and these new measures are part of this recovery plan. The IBEC claim that the plan could be delivered at no additional cost to the exchequer. The director of the IBEC spoke after the EU summit and that while it should reduce the countryís debt and improve sustainability, if the economy really wants to progress the country needs economic growth to get going. "Exports are doing well, but we need all sectors of the economy to fire on all cylinders," said the director.

The governments infrastructure projects just announced have been praised and are being said to be a step in the right direction but critics are still saying it is not enough and that Ireland need a more ambitious strategy that will cover the whole of the Irish economy.


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