Retail Excellence Ireland has urged the government to indefinitely pause any future increases in the minimum wage, citing a highly challenging commercial environment for retailers.
The organisation highlighted that the statutory minimum wage has risen by 38 per cent between January 2020 and January 2025, climbing from €9.80 to €13.50.
In addition to its call on wage policy, Retail Excellence Ireland is also advocating for the return and expansion of the Increased Cost of Business (ICOB) scheme. The scheme, which concluded in May last year, allocated €257 million to support small and medium-sized enterprises (SMEs) as part of Budget 2024.
It provided eligible businesses with a one-off grant based on their commercial rates bill to help offset operating costs.
Jean McCabe, CEO of Retail Excellence Ireland, stated: “We welcome the Government’s decision to pause the introduction of the living wage until 2029, but we also need to see a commitment from it not to increase the minimum wage even further.”