Lenihan tells American Chamber of Commerce Thanksgiving lunch improvements in both public and private sector competitiveness will protect and grow jobs
Nov 26th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The American Chamber of Commerce today said that the Government’s budgetary policy must be biased towards cost controls and productivity improvement measures to enhance competitiveness. Speaking at the Chamber’s Annual Thanksgiving Lunch, Brian Lenihan, Minister for Finance said that "over the last 20 years, salaries in the public service and social welfare payments have increased well ahead of inflation. Given the parlous state of the public finances and the fact that falling prices have boosted consumers’ real spending power, it is not unreasonable to examine the feasibility of reductions in public expenditure. It is only through making improvements in both public and private sector competitiveness that we can protect and grow the number of jobs in Ireland."