New trade strategy to safeguard jobs and win new investments
The Government’s new Trade and Investment Strategy, entitled “Values for Ireland. Values for the World”, has been published today. Seven priority actions have been set out to grow trade with other countries between 2022 and 2026. The actions include enhancing Ireland’s “trade and investment ecosystem” and building on trade links around the world. A “whole […]
Cabinet likely to consider living wage plans by summer – Tánaiste
The Tánaiste has said he expects to bring proposals to Government before the summer recess on how Ireland can adopt a living wage. Mr Varadkar said the Irish Government will be among the early movers in adopting a national, mandatory living wage. He said he intends to honour the Programme for Government commitment to do […]
Govt looks to reduce VAT rate on energy to 9%
The three coalition party leaders have discussed plans to use domestic legislation to reduce the VAT rate on energy from 13.5% to 9%. The development would mean a €49 per annum reduction on the average gas bill and a cut of €61 annually on electricity prices. In a statement to RTÉ News, the Department of […]
Demand for land led to price surge in 2021, survey finds
Demand for land around the country brought significant price increases in 2021, according to a survey by the Society of Chartered Surveyors Ireland (SCSI) and food and agri-research body Teagasc. Co Kildare retained its position as having the most expensive land in the country up from €13,600 to €15,350 per acre, while the cheapest land […]
ESRI says rent pressure zones have been successful in limiting rent inflation
A report by the Economic and Social Research Institute has found that Rent Pressure Zones (RPZs) have been successful in limiting rent inflation. However, the report says it is not possible to completely separate the impact of broader economic conditions from rental price changes. The authors say that given the expected recovery in the Irish […]
How you can beat inflation and save money
Prices have been rising at their fastest pace in decades, but it’s not that anyone needs reminding. According to the latest figures form the CSO published this week, inflation hit a 22 year high of 6.7% in March. The ESRI and the Central Bank both expect the annual rate of price increases to peak at […]
Construction activity growth slows in first quarter
Growth in the Irish construction sector slowed in the first quarter of the year, according to the BNP Paribas Real Estate Ireland Construction Total Activity Index. It shows that activity, new orders and employment all rose at slower rates, while business confidence dropped sharply. It comes amid near-record increases in input costs, with more than […]
Rising cost of living impacting would-be home-buyers
More than half of would-be home-buyers say that the rising cost of living is having a negative impact on their plans to purchase a property. A new survey by property listing site MyHome.ie found that 52% of respondents said inflation was affecting their ability to purchase. Consumer prices rose by 6.7% in the year to […]
Revenue to continue issuing LPT reminder letters
Revenue has said it has seen significant engagement from the property owners it contacted in relation to their overdue Local Property Tax return. Last month, Revenue confirmed that over the course of a number of weeks, it would contact property owners who had not yet filed a LPT return for the 2022 – 2025 valuation […]
Govt still awaiting VAT ruling from European Commission
The Government has yet to receive an indication from the European Commission that it will give Ireland and other countries flexibility to reduce VAT on energy. The Taoiseach Micheál Martin and Minister for Finance Paschal Donohoe have held discussions over recent weeks with the Commission but it is understood a reduction in VAT may not […]
One third of hybrid workers struggle to disconnect
One third of hybrid workers struggle to disconnect and one quarter feel demotivated or uninspired, according to new research from Microsoft Ireland. The ‘Work Trends Index’ also reveals that almost a quarter of hybrid workers feel removed from the company culture and senior leadership. A total of 44% of workers agreed it was harder to […]
Unemployment rate rises to 5.5% in March as Covid-19 scheme closes
New Central Statistics Office figures show that the seasonally adjusted unemployment rate for March rose to 5.5% from a rate of 5.2% in February. The March jobless rate of 5.5% was down from a rate of 7.7% the same month last year. The CSO said that as the Pandemic Unemployment Payment (PUP) scheme has ceased, […]
Public finances show surplus of €200m in March
The public finances recorded a surplus at the end of March of €200m, according to the latest Exchequer figures published by the Department of Finance. This compares to a deficit of €4.2 billion recorded at the end of March 2021, which means an improvement of €4.3 billion. This is based on continuing strong levels of […]
Fiscal Council eyes ‘unusually’ high rate of inflation
Chair of the Irish Fiscal Advisory Council Sebastian Barnes has said inflation is likely to be at around 7% when figures are released today and will probably peak at about 8% in the summer but is expected to go back down to 3% next year. The Central Statistics Office is due to publish inflation figures […]
One in five workers did not take any annual leave last year – CSO
More than one in five workers did not take any annual leave in 2021, according to a new study from the Central Statistics Office. The CSO’s “Personal and Work-Life Balance Survey” reveals that the most common barrier to taking paid leave was being short staffed. For workers with children who said there were barriers to […]
Planned increase in Carbon Tax next month to be ‘offset’ – Martin
Next month’s planned increase in the Carbon Tax would be “offset” so there would not be additional costs for householders, the Taoiseach has told the Dáil. The tax will increase the cost of gas by €1.40 per month, while oil users will see an increase of €1.50 a month. Micheál Martin defended the Government’s position […]
Central Bank revises downwards economic forecast
The Central Bank has revised its forecasts for growth in the economy downwards, due to higher inflation and the impact on the war in Ukraine on the global economy. In its quarterly bulletin, the bank says inflation this year could peak at 8% and will average out at 6.5% for the year as a whole. […]
Pandemic Unemployment Payment winds down today
Today marks the end of the Pandemic Unemployment Payment (PUP) and remaining recipients will now transition to jobseekers’ payments, if they are deemed eligible. The scheme was closed for new applications in January and last week, final payments to the remaining 44,747 claimants were processed. The PUP was first introduced as the Covid-19 pandemic struck […]