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 […]
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 […]
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 […]
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 […]
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 […]
Numbers claiming PUP down 16,000, Govt extends support
The number of people receiving the Pandemic Unemployment Payment has fallen to 227,982, a decrease of 16,215 over the last seven days. The Department of Social Protection said the payments issued this week were valued at €67.2 million. Following today’s Government decision to defer the reopening of indoor hospitality, the Government has extended the deadline […]
6 things businesses learned from today’s announcement
The Government’s decision to delay the reopening of indoor hospitality has been met with an almost exclusively negative reaction from businesses and representative bodies. Today’s announcement did give some detail on what happens next for those affected – though it also left a number of questions unanswered. Here’s what businesses learned today: Indoor dining delay […]
Hospitality representatives to hold talks with Govt ministers
Representatives from the hospitality industry are due to hold talks with Tánaiste Leo Varadkar, Minister for Health Stephen Donnelly and Minister for Tourism Catherine Martin. The Hospitality Forum, which includes hotel, restaurant and licensed vintner groups, meets ministers every three or four months. Today’s long scheduled meeting is timely as it will be the first […]
Level of spending during Covid-19 crisis not sustainable – Martin
The Taoiseach has said the level of spending by the Government during the Covid-19 pandemic, is “not sustainable” and must “move to the next stage”. Micheál Martin made his remarks at the opening of the National Economic Dialogue (NED) which takes place online this year. The NED allows for various interest groups to raise their […]
Mortgage approvals up in May, driven by first-time buyers
New figures show the number of mortgages approved in May rose by 7.4% compared to the previous month, and were up almost 150% compared to the same time last year. Banking & Payments Federation Ireland said a total of 4,683 mortgages were approved last month. First-time buyers (FTBs) were approved for over half of the […]
McConalogue says new CAP deal is ‘balanced’
Minister for Agriculture Charlie McConalogue has said the new Common Agricultural Policy (CAP) deal that was signed off on by Agriculture Ministers across the EU is “a balanced CAP”. The Minister said it was the best agreement that could have been achieved after many months of really hard work and negotiation. Speaking on RTÉ’s Drivetime, […]
NPHET to meet over advice on July reopening
The National Public Health Emergency Team is to meet on Monday to consider its advice to Government on whether or not to further ease Covid-19 restrictions from 5 July. The meeting means that Cabinet could take a decision on the issue on Tuesday. Taoiseach Micheál Martin is understood to have spoken with Chief Medical Officer […]
House prices rising at much faster rate outside Dublin
Asking prices for houses nationally jumped 13% in the second quarter of the year compared to the same period last year, according to two separate reports by property websites Daft.ie and Myhome.ie. Both pieces of research also found that listed prices have risen at a much faster rate outside Dublin than in the capital. According […]
Economy to grow 6.5% this year driven by exports, says Ibec
Employers’ group Ibec has forecast that the economy in Ireland will grow 6.5% this year driven in the main by strong exports. However, in its latest Quarterly Economic Outlook, it also predicts that unemployment will remain high at 15.6% in 2021, falling to 9.3% next year. The organisation thinks consumer spending will bounce back from […]
Over 200,000 housing units need to be built over next 3 years – Davy
Over 200,000 housing units will need to be built in Ireland over the next three years, according to a new report from Davy. Its chief economist Conall MacCoille has estimated that based on the population growing by 240,000 over the past five years there is a “latent” demand for housing for which supply has not […]
26% planning a holiday abroad for September, survey reveals
Over a quarter of Irish people are planning a holiday abroad for September, while 22% are planning an overseas trip for October, according to a survey by online travel agent Click&Go. Nearly 2,500 people between the ages of 18 and 65 took part in the survey, with the majority of respondents aged 35 or older. […]
Restauranteurs seek meeting with Govt on reopening plan
The Chief Executive of the Restaurants Association of Ireland has said that he has called for an urgent meeting with the Government to discuss speculation around a pause on reopening of indoor hospitality. Speaking to RTÉ’s Morning Ireland, Adrian Cummins said the Association “needs to know very clearly what percentage of the population needs to […]
PAC calls for independent investigation into ‘bogus self-employment’
The Dáil’s Public Accounts Committee (PAC) has called on Revenue to commission an independent investigation into the self-employment status of some couriers. In a report to be published this afternoon, and seen by RTÉ News, the committee also calls on Revenue to conduct a minimum of 4,000 site visits across all employment sectors from next […]