The Irish Business and Employers' Confederation has accepted the Programme for Prosperity and Fairness. The new agreement was accepted without being put to a vote yesterday afternoon, after business leaders heard the outcome of the ICTU special delegate conference.
Meanwhile the Taoiseach, Mr Ahern, and the Tanaiste, Ms Harney, have welcomed acceptance. Mr Ahern said it would allow further progress on a wide spectrum of issues. Ms Harney said our success must not induce complacency over the many new challenges to be addressed "in the context of partnership".
Yesterday's meeting of IBEC's general council was not open to the media but it is understood that some representatives of labour-intensive sectors expressed concern about their ability to absorb costs.
IBEC's director-general, Mr John Dunne, said later that the PPF held out "the promise for all of us that we can plan into the medium term, as individual businesses and as an economy". Clearly, he said, "if we are to benefit from this `certainty' it is of paramount importance that the terms of the new agreement be fully adhered to in both the public and private sectors.
"Ultimately, increases in living standards are only sustainable through increases in productivity. The new agreement clearly recognises this reality."
The Small Firms' Association, which is affiliated to IBEC, has also accepted the PPF. Its chairman, Mr Kieran Crowley, said the decision was "the right choice for everybody". Irish business and workers could move forward and face the challenge together.
However, the Irish Small and Medium Enterprises' Association said "the universal championing of consensus and the political drift towards the centre are stifling individualism and innovation".