Two thirds of parents struggle with back to school costs
Almost two thirds of parents surveyed by the Irish League of Credit Unions for its annual back to school survey say that covering the cost of sending a child to school amounts to a financial burden. Around a quarter of respondents say they get into debt in order to cover the costs every year. The […]
Donohoe ‘committed’ to retaining low corporate tax rate
Minister for Finance Paschal Donohoe has said he is “so committed” to retaining Ireland’s low corporate tax rate that he is not willing to sign up to a new international tax agreement in its current form. 130 countries and jurisdictions have signed up to a plan that will bring sweeping new reforms to global corporation […]
Central Bank urges action on long term mortgage arrears
The Central Bank has said more action is needed from mortgage lenders to deal with long term mortgage arrears. Deputy Governor Ed Sibley said there are wider issues associated with the legacy of mortgage arrears including the cost of credit for all borrowers and the attractiveness of the Irish mortgage market for new entrants. Mr […]
26% of small landlords plan to leave rental market
Half of tenants surveyed by the Residential Tenancies Board say they are spending more than 30% of their net income on rent, with 20% of tenants in Dublin spending more than 50% of their total income. The RTB survey was conducted between September 2019 and March 2020. Carried out by Amarach Research, it surveyed 1,038 […]
Insurance report shows wide disparity in legal costs
The Central Bank has published data on employers’ liability, public liability and commercial property insurance for the first time. The information will form part of the National Claims Information Database. The report highlights a stark difference in legal costs between claims that go through the Personal Injuries Assessment Board and those that are pursued through […]
Central Bank says risks of market abuse have risen
The Central Bank has said ‘significant improvements’ are needed in how regulated financial firms comply with Market Abuse Regulations. The Market Abuse Regulations are rules governing how information, which can give a financial advantage to buyers and sellers, is handled by companies involved in buying and selling shares and bonds. The Central Bank says the […]
IDA Ireland says investments close to 2019 levels
Foreign direct investments into the country during the first half to the year returned to levels close to those seen at the end of 2019, IDA Ireland said today. The agency secured 142 investments between January and June, compared to 132 in the same period last year. 62 of those were new name investments, with […]
Taoiseach says public must ‘buy into’ hospitality rules
The Taoiseach has said compliance with new rules around indoor dining is something that public will have to “buy into”. His comments come ahead of a meeting between representatives of the hospitality sector and senior Government officials this afternoon regarding the planned resumption of indoor hospitality, following a Cabinet decision last night. Speaking this morning, […]
Govt aims to get 75,000 back to work under new strategy
The Government is aiming to get 75,000 long-term unemployed people back to work within two years as part of its Pathways to Work Strategy. The plan, which will be launched today, will also seek to cut the current youth unemployment rate of 44% to 12.5% by 2023. Minister for Social Protection Heather Humphreys is expected […]
Cabinet to sign off on plans for reopening indoor hospitality
The Cabinet will sign off on plans this afternoon to reopen indoor hospitality in bars and restaurants, RTÉ News has learned. The incorporeal meeting follows detailed discussions between ministers, senior officials and representatives from the hospitality industry throughout the weekend. The Government is aiming to have to legislation, which will allow vaccinated people eat and […]
Construction activity increased again in June – Ulster Bank PMI
Construction activity increased for the second month in a row following the full reopening of the sector, and at one of the strongest rates since the survey began. The Ulster Bank Construction Purchasing Managers’ Index remained well above the 50 no-change mark in June, posting 65 following a reading of 66.4 in May. Index readings […]
Higher utility bills and transport costs drive inflation higher – CSO
Consumer prices rose by 1.6% in June on an annual basis on the back of higher electricity, gas and transport prices, new figures from Central Statistics Office show today. The figure for June was marginally lower than the two-year high of 1.7% in May, the CSO said. Prices had fallen on an annual basis during […]
Indoor dining legislation to go before Dáil next week
A bill to amend the 1947 Public Health Act to allow vaccinated people eat and drink inside bars and restaurants is being worked on. The legislation is set to go before the Dáil and Seanad next week. The measures in the bill would effectively expire once the population was vaccinated. The Government is hoping there […]
Tax reform tops agenda as G20 finance chiefs meet
Finance ministers and central bankers from the group of 20 rich countries are to meet face-to-face for the first time since the start of the Covid-19 pandemic at a gathering in Venice where corporate tax reform will top the agenda. The G20 is expected to give its political endorsement to plans for new rules on […]
European Commission raises Irish GDP growth forecasts
The European Commission has revised upwards the country’s GDP growth projections to 7.2% for this year after a stronger than expected economic performance in the first quarter of 2021. This is well ahead of the 4.6% growth the Commission was predicting as recently as May and marks the second highest growth level in the EU, […]
Hospitality talks to focus on use of EU Digital Certs
Representatives of the hospitality sector and senior Government officials will meet later today to assess how restaurants and pubs could reopen for indoor hospitality later this month. It is understood that the discussions are focused on how the EU Digital Covid Certificate could be used to secure admission to any premises, and how the new […]
ECB to announce revamped inflation target, climate role
The European Central Bank will today announce the outcome of an 18-month strategy review, redefining a inflation target seen by some as confusing and laying down what role it can play in the fight against climate change. The central bank’s first strategic review since 2003 has been one of ECB President Christine Lagarde’s priorities since […]
Varadkar expects reduction in insurance premiums ‘soon’
Tánaiste Leo Varadkar has said he expects insurance premiums will be reduced “quite soon” after preliminary data from the Personal Injuries Assessment Board suggested the average award has decreased by around 50%. The information is contained in the first implementation report of the Action Plan for Insurance Reform, which he presented to Cabinet at Dublin […]