Employers Group Say Black Economy Costs Five Million A Year

ISME is warning that legitimate businesses are going bust, jobs are being lost and the state will be left out of pocket, unless tough measures are taken against the black market.

It estimates the black economy in Ireland amounted to around 25 billion euro this year.

Chief Executive Mark Fielding says there’s been a shift towards a cash-only ‘shadow’ economy, particularly in the construction and maintenance sectors.