Younger people more likely to invest in cryptocurrency – BPFI
Generational differences in investment behaviour among consumers in Ireland has been highlighted in a survey by Banking & Payments Federation Ireland. It found that younger people more likely to invest in cryptocurrencies and invest online, and under 35s are more likely to seek information about investments through informal channels such social media or friends and […]
Inflation rate falls to 7.2% in April from 7.7% in March – CSO
New figures from the Central Statistics Office show that inflation fell to 7.2% in the 12 months to April, down from 7.7% in March. This marked its lowest level in a year. The CSO said the most significant increases in the year were seen in the costs of Housing, Water, Electricity, Gas and Other Fuels […]
Barriers remain for young people finding employment
The shortage of housing and a lack of transport options are among a range of barriers preventing young people from finding jobs and entering the labour market, a conference has heard today. The ESRI hosted a conference today on youth employment and highlighted other barriers such as substance use, homelessness, education, mental health and physical […]
FDI into Ireland grew by 21% last year
Foreign direct investment into Ireland jumped by 21% last year, according to a new analysis. The EY European Attractiveness Survey shows that 184 new and expansion projects were announced during the year, up from 152 the previous year. This puts Ireland in the top ten most attractive locations for investments across Europe, the report claims. […]
Govt not planning intervention on grocery prices – Tánaiste
The Government has no plans for any “legislative intervention” to reduce the cost of groceries, Tánaiste Micheál Martin has said. It comes after the Competition and Consumer Protection Commission (CPCC) warned the Government not to introduce price controls. The Taoiseach told the Dáil that the CPCC had cautioned strongly against the move in preliminary advice […]
TD calls for windfall tax for ‘profiteering’ supermarket chains
Supermarkets should be treated like energy companies and subject to a windfall tax if they are found to be profiteering, according to Labour’s finance spokesperson. Ged Nash said the Government is “flailing” in its efforts to force supermarkets to cut prices. His comments come after supermarket chains reduced prices on their own brand bread and […]
Govt to urge retailers over high cost of groceries, as inflation declines
Representatives of large supermarkets chains, smaller shops and the grocery industry are due to attend a meeting of the Retail Forum at the Department of Enterprise later today, to discuss the continued high cost of groceries despite a general decline in inflation. Retailers are expected to say that their costs remain high, and that price […]
Taoiseach ‘concerned’ as 23% in arrears on gas bills
The number of domestic gas customers falling into arrears has increased from 20% to 23% in the first quarter of 2023. However, the number of domestic electricity customers in arrears dropped from 11% to 9% over the same period. The number of domestic gas customers in arrears at the end of March stood at 160,399, […]
Sovereign wealth fund among options considered for €65bn public finance surplus
The Taoiseach has said debt reduction, increasing some of the capital budgets, and the establishment of a new sovereign wealth fund, are among the options being considered for using expected surpluses in the public finances. Leo Varadkar said: “We have an aging population and a growing population. While we might be in surplus now, that’s […]
Minister to outline options for expected €65bn public finance surplus
The Taoiseach has said debt reduction, increasing some of the capital budgets, and the establishment of a new sovereign wealth fund, are among the options being considered for using expected surpluses in the public finances. Leo Varadkar said: “We have an aging population and a growing population. While we might be in surplus now, that’s […]
Split among taxpayers around vacant homes tax
More than half of taxpayers are in favour of the Vacant Homes Tax, a new survey has found. But almost three quarters of respondents who support it think that it should be higher than it is. The research by Taxback.com found that 40% support the tax and think it will have a positive impact. A […]
Increase in gas customers falling into arrears
The number of domestic gas customers falling into arrears has increased from 20% to 23% in the first quarter of 2023. However, the number of domestic electricity customers in arrears dropped from 11% to 9% over the same period. The data comes from the Commission for Regulation of Utilities, which will be considered today by […]
Government to work with retailers on rising prices – Richmond
Minister of State at the Department of Enterprise Neale Richmond has said that the Government wants to work with retailers to make sure costs people pay are reasonable and realistic based on declining inflation. His comments come ahead of a meeting with the Retail Forum on Wednesday, which will see representatives of the country’s major […]
Lack of understanding of new EU anti-greenwashing rules, research shows
Almost half of Irish companies are concerned about the costs or time involved in meeting new EU rules on greenwashing, new research shows. The Corporate Sustainability Reporting Directive (CSRD), strengthens the rules around the social and environmental information which companies have to report. Under the law, EU companies will have to report in more detail, […]
Oil prices climb as recession fears begin to fade
Oil prices rose today as fears of a recession in the US, which drove prices down for three weeks in a row for the first time since November, started receding. Brent crude futures were up 43 cents, or 0.6%, at $75.73 a barrel in early trade. US West Texas Intermediate (WTI) crude futures were up […]
Ireland’s ‘macroeconomic fundamentals’ are strong, says NCPC
The National Competitiveness and Productivity Council has said that overall the country’s “macroeconomic fundamentals” are strong. In its Competitiveness Scorecard report, published every three years, the council found that Ireland scores well on education and skills, but comparatively worse when it comes to transport and housing. Ireland has the second highest share of workers with […]
ECB raises rates by 0.25% and signals ‘not pausing’
The European Central Bank raised interest rates by 25 basis points to 3.25% as expected today and signalled that more tightening would be needed to tame inflation. The central bank for the 20 countries that share the euro has lifted rates by a combined 375 basis points since last July, its fastest pace of tightening. […]
Unemployment falls to match previous record low of 3.9% – CSO
New figures from the Central Statistics Office show that the country’s unemployment rate fell to 3.9% in April from a revised 4% a month earlier to match the previous record low of the early 2000s. The jobless rate had remained between 4.2% and 4.5% over the last year, according to recent CSO figures. But the […]