Archive for February 2021

Senior EU figures are contemplating a major reset in relations with the UK that would coincide with the formal ratification of the free trade agreement at the end of April, RTÉ News has learned. The idea would be for both sides to work towards a package of solutions around the outstanding issues of the Northern…

The number of mortgages approved in January fell by 16% compared to the previous month, according to figures published by the Banking & Payments Federation Ireland. A total of 3,355 mortgages were approved last month, a decline on the December figure, but a 2.8% increase on the same period last year. Breakdown of approvals Approvals…

Today’s Labour Force Survey figures confirm that the crisis in youth unemployment is worsening.   The number of people aged 15-24 in employment fell from 264,000 at the end of the fourth quarter of 2019, to 226,600 at the end of 2020 – a decrease of over 14%. CSO statistician Jim Dalton said this was…

The National Competitiveness Council (NCC) has said key actions must be taken to reduce costs in the Irish liability insurance market, including bringing personal injury award levels in line with other jurisdictions. The council also said that steps must be taken to ensure consistency in award levels and reduce settlement costs, if prices are to…

13.5% of commercial properties listed across the country were vacant in the final quarter of last year, according to figures published by GeoDirectory and EY-DKM. The number of vacant properties increased marginally by 0.2% in the fourth quarter, with 28,572 units unoccupied last December.  The findings of the report suggest that it is too soon to determine the…

Many small businesses will be forced to close and cut jobs if the Government does not quickly launch the Covid Business Aid Scheme (CBAS). That is according to the Small Firms Association, which has called for the €60m in supports aimed at businesses that are ineligible for other Covid supports to be rolled out. “Hundreds…

The chief executive of Ulster Bank has defended the decision of the bank and its parent NatWest not to give advance warning of its plan to withdraw from the Irish market to staff.   In a written opening statement provided to the Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach, Jane Howard said…

Business group Ibec has called for an increase in financial supports for business in the worst impacted sectors of the economy.  In a statement this evening, it said current fixed amount grants are proportionately lower for mid-sized and larger employers that continue to face fixed costs.  The Licensed Vintners’ Association said it was “disappointed” in today’s revised Living…

The Government has said that measures to support business, jobs and employment are to remain in place until the end of June. It follows the announcement that Covid level 5 restrictions are to remain in place across a number of sectors for weeks and in some cases months. The measures include the Employment Wage Subsidy Scheme…

A new report has found that the number of units in planned Strategic Housing Developments (SHD) in Dublin that have been delayed or cancelled as a result of judicial reviews has risen tenfold in the last year. Last year 5,802 potential new apartments and houses were impacted by legal challenges to SHDs, compared to just…