Bad news for low-paid workers in this country.
Ibec, one of the leading employers’ groups in Ireland, have argued against any further increase in the minimum wage and said that the 50 cent increase introduced in 2015 was a mistake.
According to the Irish Times, a submission published by the employers group yesterday argued that a cautious approach towards the minimum wage in Ireland should be adopted this year and that there was no justification for an increase considering that Ireland’s minimum wage is already seven cent higher than the United Kingdom.
Any further increase, Ibec warned, could result in major sterling depreciation ahead of a potential ‘Brexit’ this summer and a major growth in the gap between minimum wage in Ireland and the UK.
“The significant rise in the minimum wage last year, along with heightened global economic uncertainty means there is no basis for a further increase at this time,” Ibec director of employer relations Maeve McElwee is quoted as saying in The Irish Times.
“At a time of zero inflation, it would be a massive mistake to undermine our competitiveness position through unwarranted pay rises. The focus must be on maintaining competitiveness and creating jobs.”
The Low Pay Commission is due to look at the rate of minimum wage in Ireland as part of an annual review later this year.
LISTEN: You Must Be Jokin’ podcast – listen to the latest episode now!
