Revenue reminds employers of enhanced reporting obligations
Revenue has issued notices to 115,000 employers reminding them of their obligations under the Enhanced Reporting Requirements (ERR) scheme. Since January 1st, employers who provide the remote working daily allowance, untaxed travel and subsistence payments or qualifying incentives under the small benefit exemption to their employees and directors, without the deduction of tax, are required […]
Fuel prices see slight fluctuation in May
New figures from AA Ireland show a a slight fluctuation in petrol and diesel prices over the last few weeks after a sharp increase in April. The AA Ireland’s latest monthly Fuel Price Survey shows that average petrol prices rose by two cent per litre to €1.83, while diesel dropped two cent a litre to […]
Inaugural Global Economic Summit to open in Co Kerry
More than 400 leaders from politics, business, economics and civic life are gathering in Killarney, Co Kerry over the next three days for the inaugural Global Economic Summit. They will discuss themes including climate change, energy sustainability, health ecosystems, education, technology and artificial intelligence. The summit is a not-for-profit event which aims to develop new […]
Pace of rise in advertised rents slowed in first quarter
Advertised rents rose by just 0.6% between January and the end of March, new data from the property listings website Daft.ie shows. It meant that average rent sought in the first quarter was €1,836 per month, an increase of 4.9% on the same period last year. That is the lowest annual rate of asking price […]
Exports rise by €2.3 billion in first quarter of 2024 – CSO
New figures from the Central Statistics Office show that Ireland’s unadjusted exports of goods increased by €2.3 billion to €53.2 billion in the first quarter of this year compared with the same time last year. The CSO said that seasonally adjusted exports of goods amounted to €17.6 billion in March, virtually unchanged on the previous […]
Economic benefits at risk from data centre uncertainty – DII
Failure to address the policy constraints around data centres in Ireland will put the country at risk of missing economic benefits of next generation technologies, an industry body has warned. Digital Infrastructure Ireland (DII), which is made up of ten data centre developers and operators here, has called for the Government to set up a […]
FSU conference to discuss pay, AI and surveillance
Pay increases, the rise of artificial intelligence and staff surveillance are among the topics to be discussed at the triennial conference of the Financial Services Union (FSU) which opens in Belfast. Delegates will vote on 26 motions covering issues such as the four-day week, branch closures and collective bargaining. In his opening address to the […]
Public sector workers call for higher starting salaries
Public sector workers will today call for an increase in starting salaries amid claims that pay for new entrants is far too low. The issue will be debated at the biennial conference of Fórsa, the country’s largest public sector trade union. More than 700 delegates have gathered in Killarney for the event which began last […]
Over €12bn spent using mobile wallets in past year
Over €12 billion was spent using mobile wallets such as Apple Pay and Google pay in the 12 months to March, new data shows. The figures from Banking and Payments Federation Ireland reveal that mobile wallet payments accounted for more than half of the value of all contactless payments made during the period. €24 billion […]
Home prices increased by 7.3% in March amid tight supply
New figures from the Central Statistics Office show that residential property prices grew by 7.3% on an annual basis in March. This marked the fastest rate of increase since December 2022 and the tenth monthly increase in a row. The CSO said that home prices rose in Dublin by 7.2% and outside of Dublin by […]
PTSB cuts mortgage rates for the third time this year
Having eased considerably last year, fuel forecourt prices are on the rise once again. In the space of a month average fuel prices have risen by 10-13.5%, according to AA Ireland, in no small part due to the latest phase of the Government’s excise duty restoration. PTSB has announced cuts to its standard three-year fixed-rate […]
Irish economy forecast to grow by 1.2% this year – EU
The European Commission has maintained its expectations for the performance of the Irish economy this year with a predicted GDP growth rate of 1.2%. In its Spring 2024 Economic Forecast, published today, the Commission has also forecast GDP growth of 3.6% for 2025, up from 3.2% predicted in the Winter Economic forecast which was published […]
42% of Ireland’s electricity powered by gas in April – Gas Networks Ireland
Gas generated 42% of Ireland’s electricity in April, new figures from Gas Network Ireland show today. After a notably windy period in February and March, gas was the most dominant contributor to electricity generation last month as it surpassed wind energy’s contribution of 36%. Gas Network Ireland said that gas was the primary source of […]
Oil slips on signs of weak fuel demand, strong dollar
Oil prices extended declines today amid signs of weak fuel demand and as comments from US Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the world’s biggest economy. Brent crude futures slid seven cents (0.1%) to stand at $82.72 a barrel this morning, while US […]
90% jump in ‘green’ loan drawdowns last year
The number of green loans drawn down last year jumped over 90% when compared to 2022, new data shows. A green loan includes green car or auto finance and green home improvement loans, The data from Banking and Payments Federation Ireland shows that 4,266 such loans were drawn down last year. The value of these […]
UK exits recession with better-than-expected 0.6% GDP growth
Britain’s economy grew by the most in nearly in three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Minister Rishi Sunak ahead of an election. The Office for National Statistics said UK gross domestic product expanded by […]
Revenue issues demands to 11,700 firms over warehoused debt
Almost 90% of the €1.65 billion debt which was still warehoused at the start of last month has been repaid or is in the process of being repaid, Revenue has said. The debt warehousing scheme was introduced near the start of the Covid-19 pandemic to help firms struggling with cash flow as a result of […]
Inflation rate slows to 2.6% in April from 2.9% in March – CSO
Inflation in Ireland rose by 2.6% in the 12 months to April, according to the latest figures from the Central Statistics Office, down from the rate of 2.9% the previous month. However when energy and unprocessed foods are excluded, the inflation rate stood at 3.5%. The difference reflects the fact that consumers have benefitted from […]