Posts by sean
Explained: Is the EU-US trade deal good for Ireland?
While there is still a lot to be ironed out in the trade deal between the European Union and the United States, there’s a decent level of detail that has been announced. The deal ends months of uncertainty and avoids a full-blown trade war between the two blocs. What’s included in the deal? It introduces…
Read MoreEstate agents expect house prices to rise by 5% in next year
Estate agents who are members of the Society of Chartered Surveyors Ireland (SCSI) expect national property prices to increase by an average of 5% over the next 12 months, a dip from the 6% forecast in January. According to the latest SCSI Residential Mid-Year Market Monitor, more than half of agents believe the key factor…
Read MoreFlogas to increase variable electricity charges from August
Energy company Flogas is to increase its variable electricity charges by around 7%, with effect from 25 August. Flogas said this marks its first price increase in three years and comes after a 15% reduction in its electricity rates last year. The company said its residential natural gas customers are unaffected by the price hike.…
Read MoreOrbán says Trump ‘ate’ EU chief ‘for breakfast’ in trade talks
The framework trade agreement which the United States and the European Union signed yesterday is worse than the trade deal that the United Kingdom reached with the US earlier, Hungarian Prime Minister Viktor Orbán has said. The deal imposes a 15% import tariff on most EU goods – half the threatened rate. The US and…
Read MoreConsumer sentiment drops to near two-year low in July
Consumer sentiment fell to a near two-year low in July as concerns about the cost of living and tariffs on European Union exports to the US weighed, a survey showed today. The Credit Union Consumer Sentiment Survey slipped to 59.1 in July from 62.5 in June, nearing April’s two-year low of 58.7. The reading is…
Read MoreECB keeps rates steady as trade conflict clouds economic outlook
The European Central Bank left interest rates unchanged today after cutting eight times in a year, biding its time while Brussels and Washington negotiate over trade. The ECB cut its policy rate to 2% last month, halving it from 4% a year earlier, after taming a surge in prices that followed the end of the…
Read MoreVAT rate cut for hospitality would cost €867.7m a year, Department of Finance confirms
The Department of Finance has confirmed the cost of reducing the 13.5% VAT rate to 9% for the hospitality sector would be €867.7m in a full year. In documents published today it broke the cost down to €134.9m for accommodation, €674.6m for food and catering, €19.8m for entertainment and €38.4m for hairdressing. The Tax Strategy…
Read MoreGovernment considers delaying hospitality VAT reduction
The Government is considering whether it should delay introducing a VAT reduction for the hospitality sector until the middle of next year. It is understood the aim would be to create the fiscal space for more tax cuts in next October’s budget. The Coalition’s programme for government contains a commitment to reduce VAT on the…
Read MoreMore powers for IRB among action plan on insurance costs
Improving pricing transparency and giving the Injuries Resolution Board (IRB) more powers are among the main measures outlined by the Government to bring down insurance costs in the latest action plan on insurance reform. The plan, launched today, runs until 2029 and contains a total of 26 actions to bring down insurance costs, ten of…
Read MoreFirms expect impact from sweeping US regulatory changes
An overwhelming majority of Irish financial services organisations expect the sweeping regulatory changes emanating from the US to have an impact on Irish firms. The area where this is most obvious is tariffs. More than nine in ten organisations expect Irish firms to be hit by US regulatory changes, with more than two thirds concerned…
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