Irish business leaders are afraid of voters backing Left wing parties on Friday

There has been a sustained move away from Ireland's traditional political powers...

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Peter Morrison / AP

Eleven of the country’s business leaders have written a letter to the Irish Independent warning against Ireland turning to Left wing parties on polling day.

It says that turning away from centre parties will lead to, "significant political instability and hand greater influence to populist left political parties and fringe elements that are anti-business and anti-job creation."

Polls have shown a steady migration of Irish voters away from Fine Gael, Fianna Fail and The Labour Party. In a recent interview with Newstalk Anti-Austerity Alliance TD Paul Murphy branded these parties "the establishment."

Sinn Fein and smaller socialist groups, and many Left-leaning independent candidates have enjoyed increased support. This Friday's election is likely to see the largest vote against Ireland's traditional leading parties in the history of the State - and will see new Left options on ballot papers.

The eleven signatories of the letter criticising Left policies include six current members of the IBEC Board, such as Gary McGann, Chairman of Paddy Power Bet Fair; Kevin Toland, chief executive of the Dublin Airport Authority and Edel Creely, Managing Director of Trilogy Technology.

The letter warns that political uncertainty could easily increase Ireland’s cost of borrowing on international markets, as has happened in Portugal. It argues that more public money would have to be spent on debt servicing, instead of increasing spending on key public services and reducing tax.

It ends by stating: "At this critical point in our recovery, Ireland needs a stable government capable of making the right policy choices for the future."

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