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NCC publishes Costs of Doing Business Report 2018

Date: 01 June 2018 

The Council has today (June 1) published its latest report. The Costs of Doing Business in Ireland 2018 benchmarks the main costs facing enterprises. It concentrates largely on the primary costs that impact on enterprise. These comprise Labour costs (which include wages and salaries, employer paid-statutory plans and other employee benefits); Property Costs; Transportation Costs; Utility costs; and the costs of capital and taxes. The Report also examines price levels and changes in those levels.

Launching the report, Chairman of the National Competitiveness Council Professor Peter Clinch said “Although the outlook for the economy appears positive, Ireland remains an expensive location in which to do business with a price profile described as ‘high cost and rising’. Pressures have emerged in key areas. Capacity constraints are again immediate drivers of upward cost pressure. The globally connected nature of Ireland’s trade, technological and financial links mean Ireland remains vulnerable to external shocks. Brexit underlines the importance of keeping costs down to mitigate the effects of continuing uncertainty and unfavourable exchange rate movements. This is a key element to facilitating firms to stay competitive in international trade. Increasing business costs reduce the competitiveness of enterprises based in Ireland and our attractiveness as a location for mobile investment, therefore it is imperative that Government continues to place competitiveness at the heart of our Brexit response and prioritises policies and actions that are within Ireland’s control to enhance cost competitiveness. As the pressure on costs increases, it is critical that domestic policies do not contribute to overheating.”

The report is available here

An accompanying press release is available here

A Bulletin summarising key facets of Ireland's cost competitiveness performance is available here