Supply chain disruption a major concern for businesses – Eurochambres survey
A lack of skilled workers, access to affordable energy, and increasing labour costs are among the main challenges facing businesses across Europe, according to the Eurochambres Economic Survey for 2022. The European Association, of which Chambers Ireland is a member, represents over 20 million enterprises in Europe through 45 national members and a network of […]
Unions lodge 3% pay claim for community, voluntary sector workers
Unions have lodged a pay claim for a 3% increase for thousands of workers in the community and voluntary sector. SIPTU, Fórsa, the Irish Nurses and Midwives Organisation and the Irish Congress of Trade Unions are launching a campaign today to highlight precarious conditions in the area where the majority of workers are on fixed-term […]
Cross-border initiative to focus on climate change
Taoiseach Micheál Martin and Stormont’s Deputy First Minister Michelle O’Neill will launch an initiative to bring together experts on both sides of the border to research how to address climate and biodiversity emergencies. Those involved with the All-Island Climate and Biodiversity Research Network (AICBRN) say it will “significantly ramp up collaborative research activity.” The launch […]
Triggering Article 16 would be ‘irresponsible’ – Taoiseach
The Taoiseach has said nothing is certain regarding the triggering of Article 16 of the Northern Ireland Protocol by the British government and he warned of the dangers of self-fulfilling prophecies. Yesterday, Minister for Foreign Affairs Simon Coveney said evidence suggests the British government is preparing to trigger Article 16 of the protocol. He warned […]
Trade-off between economic growth and climate action?
Greta Thunberg famously asked “how dare you?” in a speech in 2019. The emotional question was followed by “we are at the beginning of a mass extinction and all you can talk about is money and fairytales of eternal economic growth”. In the movement towards climate action, is economic growth an opposing force? I asked […]
Construction activity grows for sixth month in a row
Growth in construction activity accelerated in October, for the sixth month in a row, Ulster Bank’s latest Purchasing Managers’ Index shows. But construction firms said Brexit, Covid and shortages of delivery drivers and materials contributed to a record lengthening of delivery times and record growth in input costs. The Ulster Bank Construction PMI rose to […]
Spending on nights out and socialising soars in October – Revolut
New figures from financial technology company Revolut show that spending soared on get-togethers and nights out as Covid-19 restrictions lifted in October. Consumer spending was up by 5% across the board last month and Revolut said that Irish people appear happy to kickstart the economic recovery by spending the additional savings many accumulated during lockdown. […]
Enterprise sector faces emissions cut of 40% under plan
Businesses will have to reduce their emissions by around 40% under the Government’s Climate Action Plan, which also warns failure to act means firms risk being left behind. The blueprint says that the biggest share of enterprise emissions come from a small number of large alumina, food processing, beverages and cement manufacturing companies covered under […]
Govt approves 2% cap on rent hikes in rent pressure zones
The Government has approved a 2% cap on rent increases in rent pressure zones (RPZs). A RPZ is a designated area where rents cannot be increased by more than general inflation and applies to new and existing tenancies unless an exemption is being applied. The Residential Tenancies Board said RPZs are located in parts of the country where […]
Property tax deadline extended until Wednesday
Revenue is to extend the deadline for property owners to file their Local Property Tax returns until 5pm on Wednesday. The decision comes as large numbers of people continue to seek further clarity about the self-assessment valuation process for their property tax ahead of the original deadline of this Sunday. Revenue said so far more […]
Jobless rate including Covid payments falls to 7.9% in October
Unemployment fell to 7.9% last month, according to the latest figures from the Central Statistics Office, and it includes those in receipt of the Pandemic Unemployment Payment. This compares to the Covid-adjusted rate of 8.9% in September and 20.3% in October 2020. The traditional, seasonally adjusted rate of unemployment, stood at 135,200 people or 5.2% […]
Central Bank’s pledge on climate change action
Central Bank Governor Gabriel Makhlouf has written to the chairs and CEOs of regulated financial companies to remind them of their obligations around climate change. The Central Bank also said that it has endorsed the “Glasgow Declaration” made at COP26 today by the Network for Greening the Financial System, which is made up of central […]
Government plans to have one million electric vehicles on roads by 2030
The Government Climate Action plan – to be published today – will aim to have almost one million electric vehicles in operation in Ireland by 2030. The plan going to Cabinet this morning seeks to chart a course for a reduction in greenhouse gas emissions of 51% by the end of the decade. It will […]
Households’ wealth hits new high of €312.8 billion
New figures from the Central Statistics Office show that households saved over €31 billion in 2020, bringing their financial net worth to an all-time high of €312.8 billion. The CSO said this is almost three times the level of saving before the Covid-19 pandemic and is the result of higher household incomes and lower consumer […]
Corporation tax in October almost €1bn ahead of target
The public finances continued to recover last month, according to the latest Exchequer figures from the Department of Finance. There was an Exchequer deficit of €7.438 billion recorded at the end of October, an improvement of just over €4 billion on the deficit recorded over the same period last year. Tax revenue continues to come […]
Services sector prices, backlogs hit 21-year highs – PMI
Growth in the services sector eased slightly in October from the previous month but remained near historic highs as the Covid-19 recovery pushed growth in prices and work backlogs to their highest levels in 21 years. The AIB IHS Markit Purchasing Managers’ Index (PMI) inched down to 63.4 from 63.7 last month and from a […]
9 things to avoid buying this Christmas to save money
With less than six weeks to go until Christmas, it’s time to start planning your shopping list – if you haven’t already – and staggering your spending so as to make your outgoings as manageable as possible. But just as important as managing your money for the things you are going to buy is figuring […]
28% rise in new companies registered so far this year
There has been a 28% rise in the number of new companies registered in Ireland in the first nine months of the year compared with the same time in 2020, according to CRIF Vision Net. However, the figures suggest that start-up activity slowed in the third quarter, with growth of just 4%. This compares to […]