IBEC welcomes Government's 'firm stand'

The employers lobby group, IBEC, has broadly welcomed the "firm stand" the Government has taken in respect to public spending although it has described as "unwise" the introduction of the levy of credit and laser cards.

In a statement which views the budget speech positively the group says the Government's "failure to index tax bands" is "well counterbalanced by the substantial reductions in personal taxation over the last thirteen years".

While it said it regretted some measures introduced in today's budget, it accepted the fact that "everybody has to feel the pinch if the gap between what we spend and what we earn is to be bridged.

"The levy on the banks is unwise; like any other businesses, they are subject to competitive global forces," the statement continues.