The organisation representing businesses and employers here has called for a new SSIA-type savings scheme to be set up.

Ibec's chief executive Danny McCoy said such a scheme would encourage households benefiting from the current economic growth here to save more in the good times.

He said further incentives could also be built into the schemes to encourage a future staggered withdrawal of these savings or even to provide a bridge to pension provision.

Mr McCoy said the idea was one of three policies that Ibec is proposing to address the changing nature and complexity of the Irish economy and the emergence of three distinct economic cycles here.

These revolve around the traditional domestic sectors, indigenous and multinational exporters, as well as a new generation of intangible intensive, globally traded firms, he said.

The employers' group leader also called for a proportion of growing corporate tax revenue to be ring-fenced for more ambitious long-term capital needs.

He said the proceeds of surging tax receipts from the business sector could be used during the next economic slowdown to ensure continued investment in critical infrastructure.

Mr McCoy also called for investment in productivity and innovation in sectors where capacity and competitiveness are common challenges.

He was speaking as hundreds of business leaders gathered in Dublin for Ibec's annual Business Leaders Conference.



