Over 400,000 homes to receive fuel allowance payments
The first payments of the Government’s fuel allowance will be made this week. The means-tested payment will be paid for 28 weeks to over 400,000 households across the State. The allowance was introduced in the late 1980s as a way to help pensioners and long-term social welfare recipients with the costs of heating their homes […]
GenAI to automate over 80% of tasks in nearly one third of all jobs – study
Nearly one third of all jobs are poised to be fundamentally transformed by generative artificial intelligence (GenAI), according to a new study. The research by management consulting firm Sia Partners shows that more than 80% of tasks in these roles are primed for automation, driven by the rapid expansion of Large Language Models (LLMs) and […]
84% of businesses to increase pay in 2025 – survey
New research shows that 84% of businesses are planning to increase pay in 2025, with respondents forecasting an average increase of 3.4% across all business sectors. Business group Ibec has published the first part of its annual HR Workplace and Trends report showing that 85% of respondents increased basic pay by an average of 4.1% […]
90% of Irish CEOs see full return to office in three years’ time
90% of Irish CEOs believe there will be a return to pre-pandemic ways of working in the office within the next three years, according to new research. KPMG’s 10th annual CEO Outlook survey shows that Irish business leaders have strong confidence in the local and global economy, as well as significant plans to invest in […]
21% of adults have no financial arrangements in place for retirement – CCPC
21% of adults here do not have any financial arrangements in place for retirement, a new survey has found. That is up four percentage points on last year, according to the research by the Competition and Consumer Protection Commission (CCPC). The consumer watchdog also found the absence of provision increases to 28% among those aged […]
US Fed cuts interest rates by half a percentage point
The US Federal Reserve has cut interest rates by half of a percentage point, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market. “The committee has gained greater confidence that inflation is moving […]
Euro zone current surplus shrinks in July
The euro zone’s current account surplus shrunk in July on a lower trade surplus and a drop in primary income, which includes the flow of profits, wages, interest income and dividends into and out of the bloc, European Central Bank data showed today. The seasonally adjusted current account surplus fell to €39.6 billion in July […]
Annual house price growth accelerates to 9.6% in July – CSO
New figures from the Central Statistics Office show that residential property prices grew by 9.6% in the year to July – their highest growth rate in 21 months. The CSO said the national residential property price index is now 12% above the April 2007 peak of the country’s last property boom. Today’s CSO figures show […]
Budget 2025 energy credit to be paid by end of year – Tánaiste
The Tánaiste has said the energy credit which will be announced in the budget will be paid to households before the end of the year. With Budget 2025 now less than two weeks away, Micheál Martin is expected to hold further discussions on its overall shape with the Government party leaders tonight. However, he said […]
Committee to discuss scrapping age-based minimum pay rates
A bill that seeks to abolish age-based sub-minimum pay rates for younger workers will be discussed today by the Oireachtas Committee on Enterprise, Trade and Employment. Current legislation allows for lower or sub-minimum rates for people aged under 20. The minimum wage for those aged 19 is 90% of the prevailing rate, for those aged […]
52,000 homes per year needed over 25 years – Central Bank
Dealing with the pent-up demand for housing and continued growth in the population will require building 52,000 homes a year over 25 years, the Central Bank has forecast. It has also calculated that if the Government wanted to reduce the deficit of homes over a decade and meet demand it would need to build almost […]
Commercial vacancy rate hits new high of 14.4%
The national commercial vacancy rate hit a new high of 14.4% in June, new data shows. 30,246 commercial units were classified as vacant across the country, according to the latest GeoDirectory report. The analysis, prepared by EY, found that the commercial vacancy rate increased in 14 out of 26 counties surveyed. “While the national commercial […]
Monthly grocery sales rise by 5.4% in latest four week period
New figures from Kantar today show that take-home grocery sales increased by 5.4% in the four weeks to September 1 as Irish households prepared for the new school year. Shopping frequency increased by 0.7% in September, along with an increase in average prices of 2.4%, while volumes per trip were also up slightly by 0.4% […]
Euro zone rates should be cut gradually – ECB economist
The European Central Bank should keep cutting interest rates gradually, its chief economist said today, after policymakers reduced borrowing costs last week for the second time this year. “A gradual approach to dialling back restrictiveness will be appropriate if the incoming data are in line with the baseline projection,” Philip Lane said in a speech […]
Investment package aims to boost tourism to Gaeltacht islands
A multi-million euro investment package has been announced to boost tourism and develop new visitor attractions on two islands. Fáilte Ireland and Údarás na Gaeltachta will work in conjunction with comharchumann (community cooperatives) on Inis Mór and Cléire to bring the projects to fruition. It is part of an initiative to encourage Gaeltacht visits and […]
8 changes to look out for in Budget 2025
Ahead of Budget 2025 in October, here are eight changes to look out for: 1. Inheritance tax At present if somebody inherits from a parent, they pay 33% capital acquisition tax on everything above 335,000. This threshold will almost certainly rise to €400,000. The €65,000 increase will be welcomed by many in the context of […]
Call for tax exemption for companies developing sites
A developer has told a conference there should be an exemption from the Government’s planned zone land tax for companies that are working on developing sites. The Cabinet is introducing a 3% annual levy to discourage speculators from hoarding land that can be used for housing. Senior managing director of US group Hines Brian Moran […]
Consumer sentiment has rebounded, research finds
Consumer sentiment has rebounded markedly, new research has found. According to the latest PTSB Reflecting Ireland report, respondents are now more positive than they were at any time since 2022 about the economy, with 61% expecting it to get better or stay the same over the coming year. 38% said they were positive about the […]