Archive for October 2021

Residential development commencements jumped threefold in the second quarter of the year compared to the same period last year. The figures, compiled by Deloitte, also show a two-fold increase in the number of residential developments that commenced versus the first quarter of this year as pent up demand began to be released. “The large increase…

Minister for the Environment, Climate and Communications Eamon Ryan has said he is hopeful and confident that Ireland will “be able to be part of the solution” and sign up to a new global tax agreement. Speaking to RTÉ’s Morning Ireland Minister Ryan said that the final decision will be made by Cabinet on Thursday.…

Central Bank Deputy Governor Sharon Donnery has said the benefits of the mortgage measures were evident over the past year as the resilience built since their introduction helped to protect borrowers and lenders during the Covid-19 crisis. Ms Donnery made her comments today as she participated virtually in the Bank of Lithuania’s macroprudential policy conference.…

The Irish services sector continued to grow rapidly in September, according to AIB’s Purchasing Managers’ Index. It reveals that the pace of expansion remained unchanged from the previous month, and rounded off the strongest quarter of growth since the second quarter of 2006. New and outstanding work both continued to expand sharply, while companies in…

The Government needs to scrap its plan for frontline pandemic bonus payments and a new bank holiday because it will burden future generations with increased debt, CEO of the Irish Small and Medium Business Association Neil McDonnell has said. The call came as a prominent Limerick-based economics professor labelled pandemic bonuses as a “bad idea”…

The Minister for Public Expenditure and Reform has said the National Development Plan (NDP), which will be announced later today, is the largest public capital investment programme in the history of the State in relation to transport and housing. Michael McGrath said “transformative change” is needed in the area of transport policy in Ireland. The…

Minister for Finance Paschal Donohoe is due to meet with Executive Vice-President of the European Commission and Commissioner for Competition Margrethe Vestager to discuss tax issues today. Mr Donohoe is also President of the Eurogroup. Mr Donohoe will also chair a meeting of the Finance Ministers of the euro area this afternoon in Luxembourg. The…

Growth in factory activity slipped to a six-month low in September but remained close to all-time highs with the sector showing signs of inflationary pressures, a survey showed today. The latest AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) slipped to 60.3 in September from 62.8 in August and down from May’s record reading of…

More than half of businesses will see their cost of water increase from today, as a result of changes to the charging system. The balance of customers will see the amount they have to pay fall because of the alterations. Irish Water says the vast majority of customers will see either a decrease or an…

Forecasts for economic growth this year have been revised significantly upwards by the Department of Finance today. When measured by GDP, the department said the economy is forecast to grow this year by 15.6%. This is a revision upwards from just over 8.8% in the Summer Economic Statement. When measured by Modified Domestic Demand, which…