ISME warns Ireland is “sleep-walking into its next economic crisis” [Video]

The business lobby group ISME has issued a stark warning that Ireland is “sleep-walking into its next economic crisis”.

The group warned unless urgent reforms are made to address unsustainable spending, industrial policy, and systemic inefficiencies in key areas the economy would not be protected from future shocks.

ISME said more needs to be done to support home-grown businesses through a stronger alignment between the Department of Enterprise and the Department of Finance.

In a series of recommendations the group also called for an overhaul of the country’s “outdated legal system” which they said was creating a drag on the development of vital infrastructure projects.

They said the current system was “discouraging inward investment, and making affordable housing, family law, and commercial dispute resolution unattainable for many.”

They also criticised the current Defamation Reform Bill, describing it as disproportionately favouring rent-seeking legal interests at the expense of businesses and citizens.

The group noted …