Ennis Chamber’s President says businesses across the county town and the rest of Clare are ‘very worried’ about an uncertain economic outlook for the rest of the year.
It’s after the European Central Bank confirmed it’s to rise interest rates by 0.5 percent – the first increase in 11 years.
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It’s led to fears that mortgage holders will have less disposable income in their pockets, with a family on a 250 thousand euro variable loan expected to pay an extra 804 euro a year.
President of Ennis Chamber and Bank of Ireland branch manager, Colin Ryan, says a lack of discretionary income is a concern for local businesses.
Listen to the full interview here:
