The outsourcing and financialisation of the private sector will have hugely negative implications for Ireland according to a leading expert.

Director of the European Services Strategy Unit Dexter Whitefield, said studies show that outsourcing work from the public to the private sector saves little or no money.

Speaking at the Cantillon Economic Forum in Tralee, Professor Whitefield said that public sector bodies should be under constant review to guarantee quality social services.

He said that once we start privatising public services, it is difficult to reacquire control of them.

"If we allow the public sector and the welfare state to end up in that kind of process that is going to have massive ramifications," he said.

"Look at the studies, look at the data, the evidence is there. It doesn't save money."