Changes to employment permit system to address shortages
Changes are being introduced to the employment permit system to allow a greater number of workers from outside the European Economic Area work here. The changes will include the removal of quotas for HGV drivers, as well as additional permits for hospitality managers and a loosening of the rules for construction workers, opticians and meat […]
Farming – a big problem for Ireland’s climate goals?
According to Teagasc, the semi-state agency that advises the agriculture industry, dairy farming is the most profitable of Ireland’s mainstream agricultural enterprises. Data from the Environmental Protection Agency (EPA) shows that, in 2020, the number of dairy cows on Irish farms rose for the 10th consecutive year, climbing by 3.2%. Profits in the sector are […]
Progress on talks over collective bargaining rights – ICTU
The Irish Congress of Trade Unions says some progress has been made in talks with the government on collective bargaining rights, which is one of the main issues on the agenda for discussion during ICTU’s two day biennial conference in Belfast. ICTU delegates will discuss a number of motions on collective bargaining rights tomorrow. Speaking […]
Third quarter mortgage drawdowns jump by 40.9% – BPFI
New figures show that the volume of new mortgages drawn down in the third quarter of this year jumped by 40.9% compared to the same time last year. Banking & Payments Federation Ireland (BPFI) said a total of 11,479 new mortgages, worth €2.784 billion, were drawn down by borrowers during the third quarter of 2021- […]
EU to discuss gas supply crisis and electricity prices
European energy ministers are holding a special meeting in Luxembourg to try to forge agreement on how to emerge from the current crisis in gas supplies, and the knock-on effect to electricity prices. Ireland has joined eight other mostly northern European countries in rejecting calls for a wholesale reform of the single energy market, or […]
Consumer confidence slipped in October – BOI Economic Pulse
Consumer confidence slipped in October, according to the latest Pulse survey from Bank of Ireland, which found that consumers were more concerned about rising prices. The Bank of Ireland Economic Pulse posted a reading of 87.6 in October 2021. The index, which combines the results of the Consumer and Business Pulses, was down 0.6 on […]
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 […]