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Minister for Finance Michael McGrath has announced that the interest rate on tax debt frozen since the pandemic has been cut to 0%. The Revenue Commissioners have also indicated that they will take a flexible approach to repayments which will allow for pay back arrangements spanning more than five years. There is still €1.72 billion…

The latest figures from the Central Statistics Office show an easing in the estimated annual rate of inflation in January. The latest “flash” inflation estimate from the CSO shows that the annual rate of inflation stood at 2.7% in January, down from 3.2% in December. The core HICP rate, which excludes energy and unprocessed food,…

Consumers are being warned to be on the alert for elaborate investment scams involving online and mobile banking transfers. Figures from FraudSMART, the fraud awareness initiative led by the Banking & Payments Federation Ireland showed a year on year 26% increase in the incidence of such fraud in the first six months of last year.…

Construction costs are continuing to rise, but the rate of increase eased significantly in the second half of last year, the latest Tender Price Index from the Society of Chartered Surveyors of Ireland shows. The report shows that the rate of commercial construction inflation increased nationally at a rate of 1.5% in the final six…

New controls on imports entering Britain from the Republic of Ireland have come into effect. The changes, which are a result of Brexit, require firms to pre-lodge customs declarations ahead of shipping products across the Irish Sea. Agri-food exports also have to be pre-notified to the UK authorities and in some cases they have to…

From today, PAYE taxpayers can submit claims for mortgage interest relief for last year. The relief aims to help homeowners who have borne the brunt of interest rate hikes. Around 208,000 households are eligible, with the relief capped at €1,250 per property. The Government said self-assessed taxpayers will be able to claim the relief from…

The euro zone’s economy stagnated last year, weighed down by an industrial malaise in Germany, its former powerhouse, data showed today. The 20 countries that share the euro barely avoided an outright recession in the final quarter of last year even as the zone’s biggest trading partner, the US, chalked up impressively brisk growth. The…

Job vacancies fell 28% in the final three months of last year, compared to the same period in 2022. According to IrishJobs the number of open positions advertised on its platform during the period was also 13% lower than the previous quarter. The hiring platform claims the softening is further evidence of a normalisation of…

Turnover in the Irish investment property market dropped almost 70% last year to €1.85bn when compared to 2022 – the lowest since 2012. A new report by BNP Paribas shows that just 114 deals were carried out in the 12 month period, well below the ten-year average of 223. Between October and December, turnover reached…

The development of offshore wind in Ireland could be worth at least €38 billion to the economy, a new study has estimated. However, the report produced for Green Tech Skillnet and Wind Energy Ireland by BVG Associates also warns that significant investment in training and skills will be required if the benefits are to be…