ISME calls for black market crackdown
ISME has called for government action on the illegal activities of "rogue operators, racketeers and others who participate in the shadow economy", which the body said had cost €2.7bn in unpaid taxes.
"Unless there is urgent remedial action taken to address the problem [of the black economy], which seems to be increasing, legitimate businesses will close and jobs will be lost," ISME warned.
Sectors particularly affected by the black economy include construction, childcare and private security, said ISME today.
"Legitimate companies in these sectors not only have the difficulty of recruiting potential employees, but also have the more immediate threat of competition from unscrupulous employers operating in the black economy and under-cutting the cost of providing the service. The impact is to take business away from genuine compliant companies," the body said in a statement.
