ISME was right ……

23 March, 2010

I recently stumbled across a press release dated June 2006 from the Irish Small and Medium Enterprises Association (ISME).  I’m not always a fan of ISME’s intemperate style, but it has to be said that they called it right more often than not when the Government were destroying the economy over the past ten years.  When Ahern/Cowen were throwing taxpayers’ money around like confetti, and indulging the public sector with the “benchmarking” scam, and when IBEC were at best negligent (and arguably complicit) in leading the country to ruin, at least ISME were shouting warnings and invectives from the sidelines.

The press release, issued at very height of the Celtic Bubble, is sadly prescient.  The following is a flavour:

ISME, the Independent Business Organisation, described the details of the new social partnership agreement, ‘Towards 2016’, as a bad deal for small business, a bad deal for the economy a bad deal for democracy but a good deal for the Public Sector Unions and CORI. The Association warned that this ‘agreement at all costs’ would have serious repercussions for Irish competitiveness and the overall welfare of the State.

Attacking the proposals, particularly the pay element, ISME Chief Executive Mark Fielding outlined that pay increases of the magnitude of 4.5% annually, almost twice the EU average, are not feasible, will be  detrimental to competitiveness and will result in companies either downsizing, shedding jobs or closing down completely.

You can read it all here.


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