Updated Climate Action Plan ‘charts the way forward’ – Taoiseach
Taoiseach Leo Varadkar has said Ireland can become energy independent within a generation or less and that this generation should be the one that turns the tide on climate change and biodiversity loss. Launching the Government’s updated national Climate Action Plan today, Mr Varadkar said we must prepare ourselves for the adverse effects of climate […]
Consumers feel some Christmas cheer as outlook steadies
Consumer sentiment improved in December to its best level for four months as cheaper fuel and an improved economic outlook brought some seasonal cheer to hard-pressed households, a survey showed today. The Credit Union Consumer Sentiment index increased to 48.7 in December from 45.3 in November, the second improvement in the past three months. The […]
Businesses to get first TBESS payments this week – McGrath
Finance Minister Michael McGrath said that so far over 7,000 businesses have registered for the Temporary Business Energy Support Scheme, which was announced in the Budget. The Temporary Business Energy Support Scheme (TBESS) aims to assist businesses with their energy costs during the winter months. Speaking on Morning Ireland, Mr McGrath said the first payments […]
Reducing car journeys in updated Climate Action Plan
An updated national Climate Action Plan outlining accelerated economy-wide measures to reduce greenhouse gas emissions will be unveiled by the three Government leaders later this afternoon. It is expected to include new measures to reduce the number of car journeys taken, reduce on-street parking and prioritise active travel and the use of public transport. The […]
Energy price hikes drive customers to switch providers
New figures from the Commission for Regulation of Utilities (CRU) show that wholesale gas prices increased by 380% in 2021, while wholesale electricity prices jumped by 260% compared to the previous year. The knock-on effect on retail prices caused more customers to switch providers in an effort to reduce their bills. Today’s data from the […]
ESRI identifies pros and cons of universal basic income
The possible future introduction of a universal basic income (UBI) would have both positive impacts and drawbacks, according to a new study from the Economic and Social Research Institute (ESRI). A UBI is defined as a universal, unconditional payment that is made regularly, is sufficient to live on, is not means tested and carries no […]
Remote workers account for 22.5% of those in work in Q3 – CSO
New figures from the Central Statistics Office show that people who usually worked from home accounted for 22.5% of people in employment in the third quarter of 2022, up from 7.3% during the same time in 2019. The number of people usually working from home saw a sharp rise since pre-Covid pandemic levels, increasing from […]
EU countries make final push for gas price cap deal this year
European Union countries’ energy ministers meet in Brussels today to attempt to agree a cap on gas prices – their latest idea to tame Europe’s energy crisis but one that countries are still split over. Country leaders last week urged their ministers to approve the cap today, in a bid to finalise a measure that […]
ECB will hike interest rates further – De Guindos
The European Central Bank will hike interest rates further in the euro zone to combat high inflation, ECB’s Vice-President Luis de Guindos said today. “There will be more interest rate hikes, until when, I don’t know. I am absolutely honest, I don’t know,” De Guindos said. He added that the institution was committed to bring […]
Gas demand in November up 13% on a monthly basis
New figures from Gas Networks Ireland shows that colder temperatures in November compared to October saw a 13% increase in gas demand last month. But as November was still a relatively mild month overall, gas demand decreased by 7% compared to the same month last year. Today’s figures show monthly increases in gas demand from […]
ECB increases interest rates by 0.5%, signals more hikes to come
The European Central Bank raised interest rates for the fourth time in a row today, although by less than at its last two meetings. It also pledged further hikes and laid out plans to drain cash from the financial system as part of its fight against runaway inflation. The ECB has been raising rates at […]
Christmas party warnings for staff and employers
After an absence of more than two years, work Christmas parties are back with a bang. Staff and employers are being reminded that workplace policies and procedures still apply while at the office party. Many companies are throwing lavish social events this year and using parties to give them an edge in the current tight […]
Plans to simplify work and immigration permit process
The Government has announced plans for a single application procedure for employment permits and immigration permissions. Currently to work in Ireland, a person from outside the European Economic Area has to first make an application to the Department of Enterprise, Trade and Employment for a work permit. They then have to make a second application […]
ESRI expects economy to grow at ‘significantly reduced pace’ in 2023
The Economic and Social Research Institute expects the economy to grow “at a significantly reduced pace” next year given the likelihood of recession in overseas markets and continuing cost of living pressures at home. In its latest Quarterly Economic Commentary, the institute also predicts that households with mortgages are likely to see their repayment burdens […]
Corporation tax rate for larger firms here expected to rise to 15% in 2024, Donohoe says
The Minister for Finance has said he expects Ireland’s corporation tax rate will be increased to 15% in 2024 for large companies that are subject to last year’s global tax deal. It follows a deal brokered at EU level earlier this week, which saw Hungary drop its opposition to a minimum corporation tax rate of […]
European car sales jump 17.4% in November
European new car registrations increased sharply in November, data from the region’s carmaker association showed today. The number of new vehicles registered in the European Union, Britain and the European Free Trade Association (EFTA) rose by 17.4% to 1.01 million units, the European Automobile Manufacturers Association (ACEA) said. In the EU, the rise was 16.3%. […]
Fuel prices ease by around 10% in December – AA
A survey from the AA shows that the average price of fuel dropped by an average of about 10% in December. The average price of a litre of petrol is now €1.60 per litre, a 17 cent or 9.8% drop since last month and the lowest average price for petrol since September 2021. The average […]
15% tax rate can proceed after Hungary drops opposition
Hungary has dropped its opposition to the introduction of a global minimum corporation tax rate of 15% as part of a wider deal with the EU allowing implementation to proceed. The country has agreed to unblock €18bn in financial aid to Ukraine, in return for reducing the amount of funding Budapest has seen frozen by […]