The head of the employers' group IBEC has warned that a return to the days of high unemployment and emigration is possible unless action is taken to improve competitiveness.
Turlough O'Sullivan was speaking at the launch of an IBEC report on the economic prospects for the next 10 years. The report was compiled following interviews with the chief executives of Enterprise Ireland and IDA Ireland and a number of business leaders, including Michael Buckley of AIB, Eircom's Phil Nolan and David Dilger of Greencore.
The report sets out views on what should be done to make Ireland one of the most competitive economies in the world by 2012.
It calls on the Government to borrow to invest in large infrastructural projects. It also calls for a high-quality, affordable childcare system to cope with changing conditions in the coming years.
Other recommendations include the provision of incentives to encourage postgraduate research, the introduction of science and technology at primary education level, action to speed up licensing of patents and the development of e-government.
