Archive for April 2022

The International Monetary Fund has slashed its forecast for global economic growth by nearly a full percentage point, citing Russia’s war in Ukraine, and warning that inflation was now a “clear and present danger” for many countries. The war is expected to slow growth and further increase inflation, the IMF said in its latest World…

The cost of supplying electricity to Irish homes is “wildly out of line” with the rest of Europe, and the temporary VAT reduction fails to address the underlying causes of high costs, the Irish Solar Energy Association (ISEA) has said. ISEA, which was established in 2013 to advance a policy and regulatory landscape promoting solar…

Minister for Education Norma Foley will address primary school teachers in Killarney this morning in what will be her first in-person address to a teacher trade union conference. The teachers’ Easter conferences have been held online for the past two years, but this year they return to their traditional in-person format. Ms Foley will speak…

Debt accumulated by businesses and individuals worldwide could slow economic recoveries from the pandemic crisis, the International Monetary Fund has warned. Governments took exceptional measures to support their economies as Covid-19 spread two years ago, including rolling out debt repayment suspensions or offering large-scale loans. However these programmes resulted in higher debt levels for some…

The Government has cut its forecast for growth in the economy by 2.25 percentage points to 4.25% as a result of higher inflation and the negative impact of the war in Ukraine. At Budget time, Modified Domestic Demand had been forecast to grow this year by 6.5%. Forecasts for inflation have also been increased to…

The Family Business Network is calling on the Government to establish a dedicated taskforce to address the rising cost of doing business in Ireland. Family-owned businesses employ around a million people in over 170,000 firms across the country. With energy and manufacturing prices increasing by 17.4% and 2.8% respectively, the organisation has proposed the establishment…

Minister for Finance Paschal Donohoe has said that a temporary cut in VAT on fuel bills will lead to a saving of more than €50 on an annual gas bill and €70 on an annual electricity bill. The VAT cut from 13.5% to 9% will begin on 1 May and last until 31 October. He…

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…

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…

More than one-third of business leaders do not believe the Government’s proposed new Right to Request Remote Working Bill balances the rights and requirements of both employees and employers. However, 28% of business leaders do believe that it strikes the right balance. Of those who are unhappy with the proposed new legislation, 93% think the…