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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 …

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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 …

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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 …

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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 …

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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 …

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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, …

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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 …

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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 …

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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 …

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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 …

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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. …

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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 …

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The risks of climate change to the economy

The Central Bank’s Financial Stability Review (FSR) is, as the title suggests, one of its big tome publications published twice a year, which goes into great detail on various threats to the financial system. Being Ireland, this normally boils down to a public discussion over rules on mortgage lending and what’s happening in the property …

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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 …

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ESRI predicting over 11% growth in economy this year

The Economic and Social Research Institute is forecasting double-digit growth in the economy this year. In its latest Quarterly Survey, the ESRI predicts the economy will grow by just over 11% mainly due to strong demand for exports. The ESRI believes the recovery in the economy is well under way and will pick up pace …

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Numbers claiming PUP at lowest level since last October

The number of people receiving the Pandemic Unemployment Payment has dropped below 250,000 for the first time this year, new figures from the Department of Social Protection show. 244,197 people are receiving the PUP this week, the lowest level since October 2020 and a decrease of over 23,000 over the last seven days. The drop …

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Trust in news media increased over past year, report finds

RTÉ is the most trusted news source for Irish consumers, according to the annual Reuters Digital News Report, with 78% of respondents saying they trusted the service. Overall, trust in news media increased over the past year and there was an increase in the number of people watching television news during the Covid-19 pandemic. The …

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Euro zone business growth at 15-year high as demand unleashed – PMI

Euro zone business growth accelerated at its fastest pace in 15 years this month as the easing of more lockdown measures and the unleashing of pent-up demand drove a boom in the bloc’s dominant services industry. When the coronavirus was spreading rapidly, governments imposed strict restrictions, encouraging citizens to stay home and forcing much of …

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