Mar 6th, 2009

ICMSA say 'exports the only option'

Following the briefing on the worsening state of the national finances in the Department of An Taoiseach this morning, the President of ICMSA, Jackie Cahill, said that he had emphasised his organisation's conviction that export-led growth was the only way that we could pull our economy out of what he described as a highly dangerous tail-spin.

The ICMSA President said that this fostering of exports must be the central objective in the upcoming budget. If the export based sectors – most particularly, the agri-food sector - was not assisted and encouraged our economic position will quickly degenerate into a meltdown. Mr. Cahill said that all the talk about encouraging domestic demand to stimulate the economy is not alone useless, but actually dangerous given our position as a small open economy. The farm leader called for a concerted package of measures for the export sectors and that these sectors must be exempt from any additional taxation or charges in the forthcoming budget.

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