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A record €5 billion in corporation tax was collected in November, according to the latest Exchequer returns, the biggest monthly figure ever. The tax take, underpinned by a booming multinational sector, means the Exchequer has already passed the Budget Day target of €21 billion in corporation tax for the full year. It also represents a…

Consumers are set to spend more this Christmas but plan to be less reliant on debt, according to research by the Competition and Consumer Protection Commission. Consumers are expecting to spend an average of €1,200 on Christmas shopping this year. That compares to an average of €1,000 last year. Households with children are due to…

The economy grew by 2.3% from July to September of this year when measured by Gross Domestic Product. However, activity in the domestic economy measured by Modified Domestic Demand fell by 1.1%. Ireland’s economy was, again, the best performing economy in Europe in the third quarter of this year. On an annual basis, the economy…

Eight out of 10 car and home insurance consumers engage with their provider on renewal and one in four switch, according to research conducted by the Central Bank of Ireland. The findings are included in an Economic Letter entitled, “Engagement, switching, and digital usage in consumer and insurance markets: who does it and why it…

The downturn in manufacturing activity across the euro zone eased in November, according to a survey which suggests while the bloc’s factories still face a harsh winter it may not be as bad as initially feared. S&P Global’s final manufacturing Purchasing Managers’ Index rose to 47.1 from October’s 46.4, but was below a preliminary reading…

IMF chief Kristalina Georgieva has warned that the chance of global growth dropping below 2% – last seen during the coronavirus outbreak and the global financial crisis of 2009 – is increasing as major economies slow. Her comments come as the world’s biggest economies grapple with fallout from Russia’s invasion of Ukraine, which sent food…

The annual rate of inflation across the euro area eased back to 10% in November, according to an initial ‘flash’ estimate from the EU’s statistical agency Eurostat. This compares to an annual rate of 10.6% recorded in October and is the first fall in the rate of inflation in 17 consecutive months. The main contributor…

New laws governing the practice of tipping come into force from today, providing a boost to workers’ rights. Under the Payment of Wages Act employees now have a legal entitlement to receive tips and gratuities paid in electronic form. The new law also requires that this money should be paid to workers in a manner…

Companies across Ireland will start to publish information on their gender pay gaps from today. Firms of all sizes are being mandated to produce a report outlining the differential in pay and bonuses between their male and female employees. Companies with 250 or more employees were asked to select a date in June this year…

New figures from the Central Statistics Office show that average weekly earnings were €864.32 in third quarter of this year, up 3.2% on the same period last year. Over the past three years, weekly earnings rose by 12.4%, from €769.14 in the third quarter of 2019. Today’s data shows that average hourly earnings increased by…