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The amount of corporation tax collected in August was over a billion euro less than the amount taken in the same month last year. In a statement, the Department of Finance said ‘a sharp decline’ had been expected but the 36% drop was ‘somewhat higher than anticipated.’ In August last year, the public finances received…

The latest Purchasing Managers Index from AIB marks two and a half years of successive monthly improvement in business activity, new business and employment. The report states that demand in the sector continued to bolster these increases. The index dropped slightly to 55, down from 56.7 in July and 56.8 in June. Readings above 50…

When the banks published their half year results in the early part of last month, it was clear that pressure was going to mount on them to improve the returns that they have been offering depositors. All of the main lenders reported bumper profits for the half year with interest income and interest margins looking…

The economy continued to grow in the second three months of the year, according to the latest figures from the Central Statistics Office. Measured by GDP, which includes the activities of multinationals, the economy grew by 0.5% compared to the first quarter of the year. Modified Domestic Demand, which excludes some of the activities of…

The Competition and Consumer Protection Commission (CCPC) has said that research it has carried out into pensions has revealed some concerning gaps in retirement planning. The survey of 757 people showed that one-in-ten 45-64 year olds do not have a pension. Pension ownership among the 45-54 age group stands at 76%, a sharp decline since…

AIB has become the latest bank to increase its interest rates on certain savings products, as well as on EBS saving accounts. The move comes amid growing calls for the benefit of European Central Bank rate increases to be passed on to savers. Increased deposit rates of up to 3% for both Regular Savers and…

The National Treasury Management Agency said it is increasing the rates that apply to new fixed term and variable rate State Savings products. It also said it will almost treble the Prize Bond fund on offer to holders of Prize Bonds to €48m. All new interest rate changes and the new Prize Bond fund structure…

Motorists are facing a hike in the cost of refuelling their vehicles from midnight tonight, as excise rates are increased by the Government. Petrol excise rates will increase by 7c per litre while diesel prices will rise by 5c. Agricultural diesel will go up by 1c. It is the second of three increases in excise,…

The reduced 9% VAT rate for tourism, hospitality and some other services will expire at midnight and return to 13.5%. The planned increase is set to go-ahead despite last minute pleas by business organisations for its retention. The Government extended the lower rate for the final time in February. It made the decision after an…

An initial estimate for inflation, measured by the Harmonised Index of Consumer Prices (HICP), shows prices rose by 4.9% in the 12 months to August. Today’s latest Central Statistics Office figures show that prices rose by 0.5% over the month and the annual rate was higher than the 4.6% recorded in July. The HICP for…