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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 …

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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 …

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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, …

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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 …

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Over 2.2 million contactless payments made a day in May – BPFI

Over 2.2 million contactless payments were made every day in May, new figures from Banking and Payments Federation Ireland show today. BPFI said this marked the highest daily level since its contactless data series began in 2016. May saw a total of 67.2 million contactless payment made over the course of the month worth over …

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PUP scheme to close to new entrants from tomorrow

Today is the last day that people can apply to receive the Pandemic Unemployment Payment, with the scheme shut to new entrants from tomorrow onwards. It was due to close to new registrations last week, but following the decision by the Government to delay the resumption of indoor hospitality, it was extended for a further …

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Indoor dining could resume under self-regulated system, hospitality sector told

Hospitality representatives were told today that indoor dining could reopen for 1.8 million fully vaccinated people with a self-regulated vaccine pass system. A document or email proving vaccination against Covid-19 could be used to secure entry to indoor hospitality. A letter will shortly be issued to fully vaccinated people ahead of the return of non-essential …

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Workplace deaths rose 13% last year, says HSA

New figures from the Health and Safety Authority (HSA) show that the number of people who died in work-related incidents last year rose 13% to 53, despite many workplaces being closed for long spells due to Covid-19 restrictions. However, there was also a substantial decline in the number of non-fatal incidents reported to the authority, …

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Average personal injury award down 50%, report suggests

Preliminary data from the Personal Injuries Assessment Board suggests that 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 Tánaiste Leo Varadkar is expected to present to Cabinet at Dublin Castle this morning. Mr Varadkar, who is also Minister …

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Is Ireland’s 12.5% Corporation tax rate toast?

Thursday saw the OECD forge a landmark deal to reform the global corporation tax system. Brokered among 130 countries and jurisdictions, the accord aims to modernise and stabilise what’s seen as an outdated and divisive means of calculating and collecting what large multinationals owe and pay in tax. But Ireland isn’t on board as yet, …

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Services growth hits five year high, but cost pressures mount

Growth in activity in the services sector increased further in June but cost pressures continued to intensify for firms with input price inflation hitting its highest level since 2008, a survey reveals today. AIB’s IHS Markit Purchasing Managers’ Index (PMI) rose to 63.1 from 62.1 in May, the highest level in more than five years. …

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Government to begin talks with hospitality on indoor dining

Talks between the hospitality industry and Government representatives to find a way of allowing indoor hospitality to resume will get under way later. Indoor drinking and dining in pubs and restaurants had been due to recommence today, as part of the next phase of easing restrictions. The Government decided last week to delay resuming indoor …

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Ibec warns reopening delay could damage wider economic recovery

The chief executive of the employers’ group Ibec has warned that a lack of clarity on plans for a further reopening of the economy could materially impact the economic recovery. Danny McCoy also called for certainty for the hospitality sector and the broader business community. “We are very concerned for the many businesses and people …

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Donohoe to oversee review of banking sector

The Minister for Finance has told the Dáil that he will oversee “a broad-ranging review” of the banking sector. Paschal Donohoe said the review will consider “possible gaps in terms of competition and consumer choice”, “assess the availability of credit to SMEs … and consider options to further develop the mortgage market.” It wil also …

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Ireland not among 130 countries to back global corporation tax reform deal

The Organisation for Cooperation and Development (OECD) has said that 130 countries and jurisdictions have signed up to a plan that will bring sweeping new reforms to global corporation tax rules. However, Ireland is not on the list of signatories to the proposals. Under the plan, countries will be able to tax the profits of …

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New measures to see rent increases linked to inflation

The Government has approved measures which will see rent increases linked to general inflation and an extension of rent pressure zones to the end of 2024. Minister for Housing Darragh O’Brien said the provisions will likely take effect by 19 July. The current cap of 4% on rent increases in Rent Pressure Zones will be …

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Demand for new homes has never been stronger – Cairn Homes

Homebuilder Cairn has reported revenues of €131m for the first half of this year after it closed 403 new home sales. In a trading update for the six months to the end of June, it said this compared to €81m from 207 closed sales the same time last year. Cairn Homes said that 16 active …

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Central Bank says time for ‘credible’ plan for public finances

The Central Bank has upgraded its forecasts for growth in the economy in its latest quarterly bulletin. It has also said that any decision to permanently increase spending in upcoming budgets will have to balanced by new taxes or reduced spending in other areas. This, it says, will involve “trade offs” and choices as “structural …

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