Latest News

Supermarket sales dip by 5.2% over Christmas period

New figures show that the value of the grocery market declined by 5.2% to €3.1 billion during the 12 weeks to December 26 as the market faced a tough comparison against record sales in 2020. But Kantar said that sales have grown by 10.9% compared to the same time in 2019. A total of €1.1 …

Supermarket sales dip by 5.2% over Christmas period Read More »

Govt to consider reducing back public servants’ hours to pre-July 2013 levels

Thousands of public servants will have their working hours reduced back to lower pre-austerity levels from 1 July, if a recommendation made by an independent body examining the issue is accepted by the Government. Extra working hours were introduced for the public servants under the 2013 Haddington Road Agreement. The mechanism of additional hours was …

Govt to consider reducing back public servants’ hours to pre-July 2013 levels Read More »

Gloomy outlook for global recovery, World Economic Forum survey finds

Only one in 10 World Economic Forum members surveyed expects the global recovery to accelerate over the next three years, a poll of nearly 1,000 business, government and academic leaders found, with only one in six optimistic about the world outlook. Climate change was seen as the number one danger by respondents in the WEF’s …

Gloomy outlook for global recovery, World Economic Forum survey finds Read More »

Spend in bars and on testing rose in December – Revolut

Spending in bars rose 8% in December, despite the curbs put on socialising by Government Covid-19 restrictions. But the increase in hospitality spend also coincided with a massive jump in the amount spent on testing laboratories during the month, the figures from Revolut show. Spending on Covid testing by users of the online banking platform …

Spend in bars and on testing rose in December – Revolut Read More »

Poverty levels jump after households receiving subsidies pay rent – SJI study

The poverty risk of households that are in receipt of housing subsidies is two and a half times greater after they have paid their rent, according to an analysis by the think tank Social Justice Ireland. In its report ‘Housing and Poverty 2022’, the group concludes that the practice of using housing subsidies to support …

Poverty levels jump after households receiving subsidies pay rent – SJI study Read More »

Small firms have muted expectations for 2022 – SFA

Confidence among small businesses took a hit amid a new round of restrictions on hospitality venues which were introduced just before Christmas. The Small Firms Association said that 41% saw the business environment improving in winter 2021 compared to 55% last Summer. Many businesses are also dealing with increased costs and supply chain delays, which …

Small firms have muted expectations for 2022 – SFA Read More »

Deficit on course to fall to 2% of GDP

The deficit in the state finances has fallen to as low as 2% of GDP for 2021, which would make it one of the smallest deficits in the OECD, according to Davy. The stockbroker’s chief economist Conall MacCoille bases his calculations on expectations that the general government deficit will come in just under €9 billion, …

Deficit on course to fall to 2% of GDP Read More »

‘Exponential growth’ in customs declarations – Revenue

2021 saw an “exponential growth” in the number of customs declarations, according to headline results published by Revenue today. New EU VAT rules, which came into effect in July, and an increase in e-commerce which began during the pandemic saw a fourteen-fold increase in declarations. Revenue reported that 25.4 million customs declarations were processed in …

‘Exponential growth’ in customs declarations – Revenue Read More »

Budget measures helping people cope with inflation – Donohoe

The Minister for Finance says decisions made by the Government in last year’s budget will help individuals and households cope with the cost of inflation. Further decisions to reduce the price of energy bills will also assist the cost of living, he said. The annual rate of inflation rose to 5.3% in November, its highest …

Budget measures helping people cope with inflation – Donohoe Read More »

Central Bank’s revised SFS now simpler and shorter

The Central Bank has today published a revised simplified Standard Financial Statement to assist borrowers in financial distress after a review. The SFS is used by banks and lenders to gather information from distressed borrowers on their current financial situation. Once it is completed, the lender can assess whether it can offer a borrower an …

Central Bank’s revised SFS now simpler and shorter Read More »

Highest ever tax take of €68.4bn – Exchequer returns

The Department of Finance has recorded the highest ever tax take of €68.4 billion, pushing the Exchequer deficit down to €7.3 billion. According to the latest Exchequer figures, tax receipts were up by €11.2 billion (19.7%) on 2020. This was the highest ever tax yield, over €9 billion ahead of the previous highest yield reached …

Highest ever tax take of €68.4bn – Exchequer returns Read More »

Coveney to meet UK’s new Brexit minister Liz Truss

Minister for Foreign Affairs Simon Coveney will meet British Foreign Secretary Liz Truss in London this evening. It will be the first opportunity for the ministers to meet in person since Ms Truss took over Brexit responsibilities, as well as the Foreign Secretary role. The two have already held a long virtual meeting, which included …

Coveney to meet UK’s new Brexit minister Liz Truss Read More »

Strong growth in Irish advertising market in 2021 – GroupM

The Irish advertising market recovered strongly in 2021 from the pandemic hit to spending in the previous year, according to a report from media investment company, GroupM Ireland. The report captures growth of 20% in the advertising market last year following a decline of 6% in 2020 due to the effects of the onset of …

Strong growth in Irish advertising market in 2021 – GroupM Read More »

Services sector growth slows sharply again in December – PMI

Growth in the country’s service sector slowed sharply for the second successive month in December as firms reported that a rising wave of Covid-19 infections was dampening demand, a survey found today. The AIB IHS Markit Purchasing Managers’ Index (PMI) dropped to 55.4 from 59.3 in November and 63.4 in October. The index hit a …

Services sector growth slows sharply again in December – PMI Read More »

2021 new car registrations up 19% – SIMI

New car registrations for 2021 were up 19%, according to statistics published by the Society of the Irish Motor Industry. Total new car registrations for 2021 finished at 104,932. Registrations were down 10.4% on 2019 figures. New Light Commercial Vehicle registrations in 2021 saw an increase of 32.3% compared to 2020. They were also 13.4% …

2021 new car registrations up 19% – SIMI Read More »

Euro marks 20 eventful years

The euro is today marking 20 years since people began to use the single European currency, overcoming initial doubts, price concerns and a debt crisis to spread across the region. European Commission chief Ursula von der Leyen called the euro “a true symbol for the strength of Europe”. European Central Bank President Christine Lagarde described …

Euro marks 20 eventful years Read More »

Minimum pricing on alcohol comes into effect

The introduction of minimum pricing on alcohol in Ireland came into force today. The new law will largely affect alcohol sold in off-licences, shops, and supermarkets. A broad breakdown of the new measures shows a standard bottle of wine cannot be sold for less than €7.40 and a can of beer for less than €1.70. …

Minimum pricing on alcohol comes into effect Read More »

House prices at seven times average income as supply dwindles further

Asking prices for property rose by almost 10% in 2021, according to an analysis by the property listings website, myhome.ie. Asking price inflation came in at 7.4% in the capital, but at 10.6% elsewhere around the country. Quarterly prices also rose by 1.3% nationally in the final three months of the year with Dublin asking …

House prices at seven times average income as supply dwindles further Read More »