Construction activity increased again in June – Ulster Bank PMI
Construction activity increased for the second month in a row following the full reopening of the sector, and at one of the strongest rates since the survey began. The Ulster Bank Construction Purchasing Managers’ Index remained well above the 50 no-change mark in June, posting 65 following a reading of 66.4 in May. Index readings […]
Higher utility bills and transport costs drive inflation higher – CSO
Consumer prices rose by 1.6% in June on an annual basis on the back of higher electricity, gas and transport prices, new figures from Central Statistics Office show today. The figure for June was marginally lower than the two-year high of 1.7% in May, the CSO said. Prices had fallen on an annual basis during […]
Indoor dining legislation to go before Dáil next week
A bill to amend the 1947 Public Health Act to allow vaccinated people eat and drink inside bars and restaurants is being worked on. The legislation is set to go before the Dáil and Seanad next week. The measures in the bill would effectively expire once the population was vaccinated. The Government is hoping there […]
Tax reform tops agenda as G20 finance chiefs meet
Finance ministers and central bankers from the group of 20 rich countries are to meet face-to-face for the first time since the start of the Covid-19 pandemic at a gathering in Venice where corporate tax reform will top the agenda. The G20 is expected to give its political endorsement to plans for new rules on […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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 […]
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 […]
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, […]
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. […]
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 […]
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 […]
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 […]