THE director general of IBEC, Mr John Dunne, has called on the Government to cut taxes if Ireland joins the single currency and Britain remains outside.
Speaking to the Tralee Chamber of Commerce, Mr Dunne warned that Irish business would need "defence mechanisms" before joining monetary union.
"The essential element is taxation reductions in personal, business and labour taxes would assist Ireland to ride out the turbulence likely to be a feature of the new system in its early years", he said.
He added that reductions in taxes of the levels required could only be delivered if the Government reduced the rate of, increase in its expenditure.
He also warned that there was an enormous amount of work to be done to effect the physical changeover to the single currency. Most of all we need to know from Government what the national changeover scenario will be, when will companies be able to deal with Government in the single currency and when will they have to."
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