54% of consumers plan summer holiday this year – KBC Bank Ireland
Irish consumers do not plan to go wild on their holiday spending in 2021, a new survey from KBC Bank Ireland suggests. One in four plan to spend the same as in 2020 and while slightly more plan to spend more than to cut back (19% compared to 12%), the average outlay overall is likely […]
European Union to finalise huge farm policy overhaul
European Union agriculture ministers said negotiators are close to a deal that aims to reform the bloc’s huge farming subsidy programme, protect small farms and bring agriculture in line with environmental goals. The EU’s Common Agricultural Policy (CAP) will spend €387 billion – around a third of the EU’s 2021-2027 budget – on payments to […]
Number of people receiving PUP falls more than 29,000
The numbers of people in receipt of the Pandemic Unemployment (PUP) this week has fallen by a further 29,174 to 333,993. In total €102m will be paid out to recipients of the PUP. This is on top of the further 177,969 who were on the Live Register at the end of April, the Department of […]
Survey suggests measures needed for affordable housing
A new survey has found that four out of every five adults think the Government should introduce new measures to improve the supply of affordable housing here. The research, carried out by Behaviour and Attitudes on behalf of employers’ group Ibec, also found that a third of respondents would like to be able to buy […]
Planning applications for residential units drop
The number of residential units submitted for planning permission fell by nearly a third in the first quarter of the year, according to a new report by Deloitte. The level of residential planning applications remained relatively stable at 77, but the level of applications granted dropped 26% year on year. The number of commencement notices […]
Central Bank to conduct major review of mortgage rules
The Central Bank of Ireland will begin a major review of its mortgage lending rules next month, the first since the measures were introduced in 2015. The review will consider the effectiveness of rules, whether they have achieved their aims and the evolution of the housing and mortgage markets since their inception. It comes amid […]
Guidelines for reopening of hospitality sector due out
Guidelines for the reopening of the hospitality sector are expected to be published today. They have been drawn up by Fáilte Ireland ahead of Friday’s Cabinet meeting which will look at a further easing of Covid-19 restrictions in June and July. The guidelines are expected to say that tables will have to be a metre […]
Gas supply driving power generation in April
Gas demand for power generation reached its highest level in six months in April as wind generation fell to its lowest in nine months, new figures show today. Gas Networks Ireland said that over 53% of Ireland’s electricity demand was met by the national gas network, a 4% rise on March. Wind’s contribution to the […]
What will be the result of the global remote work experiment?
A pioneer of remote work, IBM installed remote terminals in employees’ homes as early as the 1980s, and by 2009, when the idea of remote work was still a novelty for most, 40% of IBM’s global workforce worked at home. The technology company saved about $100 million in the US annually as a result of […]
Publicans call for indoor opening ‘no later’ than July 1
Publicans have called for indoor trading to resume no later than Thursday July 1. The Vintners’ Federation of Ireland said that after “sacrificing” their businesses for over 15 months, now is the time for Government to confirm that pubs can fully reopen by the first week in July in time for the traditional start of […]
Unemployment could exceed 390,000 post-pandemic – Social Justice Ireland
Unemployment could end up exceeding 390,000 when the pandemic ends – a higher rate than at the peak of the last recession, according to the Social Justice Ireland research body. Its latest Employment Monitor also shows that over a fifth of people whose jobs have been impacted by Covid-19 do not expect to return to […]
Euro zone economy not near ‘super bounce back’ – Lane
The chief economist of the European Central Bank Philip Lane has said he does not believe economies are “entering some new inflationary environment”. He said there is “zero connection between spikes in prices in the reopening of the world economy and inflation trends.” Professor Philip Lane was speaking at an online event hosted by the […]
Tax increases needed to fund public services – ESRI
The Economic and Social Research Institute has said “sizeable tax increases in the years ahead” will be needed to fund public services. In a paper published today, the think-tank said an over-reliance on corporate tax receipts and changes to motor tax means alternative sources of revenue will have to be found. Even before the pandemic, […]
Consumer confidence hits 23-month high, as optimism builds
Consumer confidence hit a 23-month high this month, according to KBC Bank Ireland’s latest consumer sentiment index. The index rose to 85.8 in May from 77.9 in April, as the Covid-19 virus incidence declined and the vaccination rollout picked up pace. It now stands at its strongest level since June 2019, when it was at […]
Personal injury reforms to ‘positively’ impact premiums – Zurich CEO
New personal injury guidelines for the insurance industry will “positively” impact premiums, according to the CEO of Zurich Ireland. Anthony Brennan said in the coming weeks, the company will implement changes to customers premiums to reflect the impact of the reforms. Mr Brennan was addressing the Committee on Finance, Public Expenditure and Reform, which today […]
Prospective buyers unhappy over omission of apartments from scheme
Demand is high and supply remains low. That’s the stark reality of the country’s housing market. The Government hopes its proposal to introduce a stamp duty charge of 10% on the purchase of ten or more houses will free up some of that limited supply. But the big question is will it work? Joanne Hogan […]
Firms pledge to improve diversity, inclusivity in workplace
New research has found that a person with a disability is four and-a-half times more likely to be unemployed than those in the general population. The study also shows that a black person is six times more likely to be without a job. This rises to 13 times amongst Travellers. The research, which aims to […]
EU proposes ‘business-friendly’ unified tax rulebook for companies
The European Commission has proposed new corporation tax rules in Europe that could allow companies to file one tax return for all its operations in the EU. The EU’s “Business in Europe: Framework for Income Taxation” (BEFIT) will be a single rulebook for companies trading in Europe. It will replace an earlier Commission proposal called […]