THE Budget should contain reductions in PRSI, especially for companies which export to Britain, the outgoing chairman and chief executive of Waterford Wedgwood, Dr Paddy Galvin, has said. Dr Galvin said such a move would help exporting firms which, he said, were going through a rough time at present because of the pound's strength against sterling.
Dr Galvin warned that new investment in Northern Ireland - which has a lower PRSI rate - would create additional problems for Irish companies. However, he felt it would also create opportunities for Irish industry. Dr Galvin was speaking after he received the Man of the Year award, sponsored by Business & Finance magazine.