Family businesses have called for the establishment of a new Government Commission on Public Expenditure, following what it describes as the "rapid increase" in public spending in recent years.
Family businesses gathered today in Portarlington for the National Family Business Conference.
They noted that voted Government current expenditure increased from €51.4bn in 2016 to a planned €77.5bn in 2023 - and said there is an "urgent need" to undertake a thorough review of rapidly rising public spending.
Business leaders highlighted the proposed increase in PRSI to fund the State Pension and other employment costs which they said are increasing the cost of doing business for family-owned firms.
"In the past seven years alone, Government spending has increased by 50%," said John McGrane, Executive Director of the Family Business Network.
"While it is prudent to put in place measures for businesses and households from the current cost of living crisis, Ireland's economy cannot sustain the rapid growth in public spending nor the hikes in businesses taxes that will be needed to fund it.
"Before we start imposing additional burdens on indigenous firms by raising PRSI and other employment costs, we should conduct a thorough review of the spending that those taxes fund," he added.
He said if the Government keeps increasing taxes on businesses, the country will have fewer jobs.
"Instead, we should look at where there's waste in public spending. Every cent we save from wasted spending avoids the need to raise taxes," he added.
"At today’s conference, the Family Business Network has committed to working constructively with government and like-minded others to identify where day-to-day expenditure could be more effective, delivering the best benefits to all of society with the best value for taxpayers’ money."
