Remote workers account for 22.5% of those in work in Q3 – CSO
New figures from the Central Statistics Office show that people who usually worked from home accounted for 22.5% of people in employment in the third quarter of 2022, up from 7.3% during the same time in 2019. The number of people usually working from home saw a sharp rise since pre-Covid pandemic levels, increasing from […]
EU countries make final push for gas price cap deal this year
European Union countries’ energy ministers meet in Brussels today to attempt to agree a cap on gas prices – their latest idea to tame Europe’s energy crisis but one that countries are still split over. Country leaders last week urged their ministers to approve the cap today, in a bid to finalise a measure that […]
ECB will hike interest rates further – De Guindos
The European Central Bank will hike interest rates further in the euro zone to combat high inflation, ECB’s Vice-President Luis de Guindos said today. “There will be more interest rate hikes, until when, I don’t know. I am absolutely honest, I don’t know,” De Guindos said. He added that the institution was committed to bring […]
Gas demand in November up 13% on a monthly basis
New figures from Gas Networks Ireland shows that colder temperatures in November compared to October saw a 13% increase in gas demand last month. But as November was still a relatively mild month overall, gas demand decreased by 7% compared to the same month last year. Today’s figures show monthly increases in gas demand from […]
ECB increases interest rates by 0.5%, signals more hikes to come
The European Central Bank raised interest rates for the fourth time in a row today, although by less than at its last two meetings. It also pledged further hikes and laid out plans to drain cash from the financial system as part of its fight against runaway inflation. The ECB has been raising rates at […]
Christmas party warnings for staff and employers
After an absence of more than two years, work Christmas parties are back with a bang. Staff and employers are being reminded that workplace policies and procedures still apply while at the office party. Many companies are throwing lavish social events this year and using parties to give them an edge in the current tight […]
Plans to simplify work and immigration permit process
The Government has announced plans for a single application procedure for employment permits and immigration permissions. Currently to work in Ireland, a person from outside the European Economic Area has to first make an application to the Department of Enterprise, Trade and Employment for a work permit. They then have to make a second application […]
ESRI expects economy to grow at ‘significantly reduced pace’ in 2023
The Economic and Social Research Institute expects the economy to grow “at a significantly reduced pace” next year given the likelihood of recession in overseas markets and continuing cost of living pressures at home. In its latest Quarterly Economic Commentary, the institute also predicts that households with mortgages are likely to see their repayment burdens […]
Corporation tax rate for larger firms here expected to rise to 15% in 2024, Donohoe says
The Minister for Finance has said he expects Ireland’s corporation tax rate will be increased to 15% in 2024 for large companies that are subject to last year’s global tax deal. It follows a deal brokered at EU level earlier this week, which saw Hungary drop its opposition to a minimum corporation tax rate of […]
European car sales jump 17.4% in November
European new car registrations increased sharply in November, data from the region’s carmaker association showed today. The number of new vehicles registered in the European Union, Britain and the European Free Trade Association (EFTA) rose by 17.4% to 1.01 million units, the European Automobile Manufacturers Association (ACEA) said. In the EU, the rise was 16.3%. […]
Fuel prices ease by around 10% in December – AA
A survey from the AA shows that the average price of fuel dropped by an average of about 10% in December. The average price of a litre of petrol is now €1.60 per litre, a 17 cent or 9.8% drop since last month and the lowest average price for petrol since September 2021. The average […]
15% tax rate can proceed after Hungary drops opposition
Hungary has dropped its opposition to the introduction of a global minimum corporation tax rate of 15% as part of a wider deal with the EU allowing implementation to proceed. The country has agreed to unblock €18bn in financial aid to Ukraine, in return for reducing the amount of funding Budapest has seen frozen by […]
Ryan: No significant reduction in energy costs in next year or two
The Minister for Environment has said he did not expect to see a significant reduction in energy prices in the next year or two, despite a dip in costs on wholesale markets. Eamon Ryan said suppliers had hedged a price at which to buy commodities in advance. However, Mr Ryan added he did not expect […]
Number of people working for multinationals hits highest ever level – IDA Ireland
32,426 new jobs were created by multinational companies with operations in Ireland over the past year, despite difficult economic conditions globally – the highest level of annual growth ever. When jobs lost during the same period are taken into account, the net number of new foreign direct investment related roles added over the last 12 […]
Contactless payments hit new high, cheque volumes drop
€4.8 billion worth of contactless payments were made in the third quarter of this year, the highest ever recorded. New figures from Banking and Payments Federation Ireland show that between July and September, the value of contactless payments increased almost 26% compared to the same time last year. There were over 285 million contactless transactions […]
EU agrees to tougher draft gig labour rules
EU lawmakers have agreed to tougher draft gig labour rules ahead of negotiations with EU countries to thrash out details, drawing dismay from a lobby group whose members include Uber Eats and Deliveroo. The European Commission had proposed the draft rules a year ago to give Uber and Deliveroo drivers and delivery employees benefits. These […]
Cost of energy biggest cause of worry for public
The cost of energy is the biggest cause of worry among the public, followed closely by the broader cost of living, a new survey by employers’ organisation Ibec has found. The survey also found a third of people polled were worried about housing, as challenges around that issue continue to grow. The national survey, carried […]
29% increase in insolvencies this year – Deloitte
New figures show a 29% increase in insolvencies so far this year with corporate insolvencies expected to exceed pre-pandemic levels over the next two years. More than 500 corporate insolvencies have been recorded in Ireland so far in 2022, the latest insolvency statistics from Deloitte show. This marked an increase of over 29% from 2021 […]