Recommendation on minimum pay rates for construction workers approved
A Labour Court recommendation for new minimum pay rates to workers in the construction sector has been formally approved by Minister of State for Business, Employment and Retail Damien English. The Sectoral Employment process is a statutory wage setting mechanism based on the principles of collective bargaining. It provides an independent assessment of pay rates […]
65% of companies increased pay rates in 2021 – Ibec
65% of companies increased basic pay this year, with an average increase of 2.8%, the latest Ibec HR Update Survey shows. The figures are higher than had been expected in the business group’s 2020 report, which Ibec said is indicative of the ongoing economic recovery. The proportion of employers awarding pay increases will be 75% […]
Consumer confidence holds steady in October
Consumer confidence held steady in October, according to latest KBC Bank Ireland consumer sentiment index. The reading for this month stood at 86.8, effectively unchanged from the figure of 86.4 reported for September. This follows a pattern of broadly stable sentiment numbers for the past six months. Despite a relatively healthy reading for October, the […]
Late night entertainment reopens at 100% capacity
Late night entertainment is set to reopen across the country tonight, after new safety guidelines were signed-off between the Government and industry representatives. Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media Catherine Martin said she was striking a balance between protecting public health and assisting the nightclub and live venue industry, which had been […]
Health Insurance Authority proposes reduction to health insurance levy
Health insurance premiums look set to decrease as a result of the Health Insurance Authority’s recommendation of a one-off cut to the health insurance levy paid by insurers. The HIA has proposed to the Minister for Health that 10% or €45 be taken off the levy on advanced products and 22% or €35 should be […]
Banks lobby to link accountability laws to lifting of bonus ban
Banking & Payments Federation Ireland (BPFI) has warned members of the Oireachtas finance committee that planned new laws to make it easier to hold financial firm managers accountable for failings under their watch “cannot operate effectively” as long as a ban on bonuses remains in place. The comments were contained in a 15-page submission to […]
Multiple table bookings expected in new guidelines
New safety guidelines for nightclubs, live events, bars and restaurants will be published today. The Taoiseach told a meeting of his party last night the guidance for venues reopening on Friday would be practical and common sense will apply. Today’s updated guidelines are expected to permit the multiple booking of tables in bars and restaurants. […]
Most renters hope to own their own home – survey
A majority of renters still hope to own their own homes, according to research by a State housing body. However, two thirds of tenants now see the cost rental model as an longer term option, according to a survey published by the Land Development Agency (LDA). The LDA will be the main provider of cost […]
Views of the public sought on future of tax and welfare
A public consultation is being launched today on the work of the Commission on Taxation and Welfare. Established earlier this year, the Commission is an independent body tasked by Government with reviewing how best the taxation and welfare system can support economic activity and income redistribution. The Commission is also examining ways of ensuring that […]
Energy, services boost euro zone inflation as expected in September
More expensive energy and services boosted euro zone inflation as expected in September, data showed today, with core inflation also higher. The European Union’s statistics office Eurostat said consumer prices in the euro zone rose 0.5% month-on-month in September for a 3.4% year-on-year rise, as earlier estimated by Eurostat. While the headline number was well […]
State pension hike and retirement age stasis threaten sustainability of pension system – report
The increase in the state pension in last week’s budget together with the decision not to raise the retirement age are impacting on the sustainability of the overall pension system here, according to an international ranking of pension regimes carried out by consultants Mercer. The Mercer CFA Institute Global Pension Index (MCGPI) is a comprehensive […]
1 in 4 expect to pay mortgage or rent in retirement
One in four householders believe they will still be paying off their mortgage or paying rent when they retire, according to research from insurer Aviva. The belief is most prevalent among women in the 35-44 year age category. However, a surprisingly large proportion of people aged over 55 – about a fifth – said they […]
Business insurance costs up 15% despite reforms survey finds
The cost of insurance for businesses and voluntary groups continues to rise despite reductions in the value of certain personal injury awards introduced earlier this year, a new survey has found. The Alliance for Insurance Reform says recent insurance renewal costs are up 15% on average, despite the changes made by the Judicial Council being […]
Will inflation change the facts after Budget 2022?
In the run up to the Budget, the Government’s plans had been characterised as potentially “risky” and at the limit of what could be considered “prudent” by the Irish Fiscal Advisory Council. But on Budget night, according to IFAC, the Government had put the economy on “a more prudent path”. What fiscal miracle had occurred? […]
EU ‘won’t let Ireland be singled out’ in NI Protocol row
Ireland’s EU Commissioner has said Europe will not allow Ireland to be singled out in the fallout if negotiations on the Northern Ireland Protocol end in failure. Mairead McGuinness was commenting on the potential for the country to be disproportionately affected if there is a breakdown of the Brexit trading arrangement designed to prevent a […]
Concerns about productivity drop with hybrid working
One in four employers say they are concerned about a possible decline in productivity as they move to a hybrid working model. The finding is contained in a survey of 160 businesses here carried out by professional services firm Aon. About 60% of the businesses said they were unclear as to whether the complexity of […]
Budget to compensate most households for price growth – ESRI
The Economic and Social Research Institute (ESRI) has said Budget 2022 will on average compensate most households for price growth forecast for next year. In its post-Budget analysis to be presented today, the ESRI said above inflation increases to core social welfare payments as well as supplemental payments for dependents and those living alone are […]
Brexit Impact Loan Scheme opens for applications
The Brexit Impact Loan Scheme, which is designed to help SMEs, farmers and fishers respond to the impact of Brexit has opened for applications today. The €330m scheme is the successor to the Brexit Loan Scheme, and is open to businesses in the primary agriculture and seafood sectors. The scheme provides low cost loans of […]