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Sterling steadied this morning but was perched above its record low only thanks to soaring yields on British debt and the hope of a response from policymakers or politicians. The pound’s movements were unnerving markets to the benefit of the dollar. On Friday and again yesterday the pound plunged, finding a record low of $1.0327…

The Government looks set to unveil two new schemes worth over a billion euro to assist businesses with rising energy costs in tomorrow’s budget. It is understood that the first will be a €200m scheme which will be administered by Enterprise Ireland. It will target larger energy intensive firms that are involved in exporting and…

The formal announcement of Budget 2023 will be made in the Dáil this afternoon. Minister for Finance Paschal Donohoe is due to begin his speech in the chamber at 1pm followed 45 minutes later by Minister for Public Expenditure and Reform Michael McGrath. The total size of additional spending and tax measures in today’s Budget…

A new survey shows that with households facing the prospect of even higher gas and electricity bills over the coming months, consumer confidence sank to an all-time low in September. Bank of Ireland said its Economic Pulse came in at 70.6 in September. The index, which combines the results of the Consumer and Business Pulses,…

Sterling tumbled to a record low this morning as traders scampered for the exits on speculation the new government’s economic plan will stretch Britain’s finances to the limit. The British pound’s searing drop helped the safe-haven US dollar to a new two-decade peak against a basket of major peers. Sterling slumped as much as 4.9%…

Budget discussions continued into the early hours of this morning as the coalition leaders and the Ministers for Finance and Public Expenditure met to finalise measures ahead of tomorrow’s announcement. The party leaders and Ministers for Finance and Public Expenditure, Paschal Donohoe and Michael McGrath, will meet again this morning. This year’s Budget is set…

The Government has approved a draft bill aimed at improving family-friendly work practices and supporting women in the workforce. It is part of the Government’s plan to bring the EU’s work-life balance directive into Irish law. When the bill reaches committee stage in the Oireachtas, Minister for Children Roderic O’Gorman will introduce legislative provisions to…

Oil prices fell today amid recession fears and a stronger US dollar, though losses were capped by supply concerns after Moscow’s new mobilisation campaign in its war with Ukraine and an apparent deadlock in talks on reviving the Iran nuclear deal. Brent crude futures fell 41 cents, or 0.5%, to $90.05 per barrel at 0325…

The Government is to introduce broad-based measures in next week’s Budget to help tens if not hundreds of thousands of businesses with their energy bills, the Tánaiste has said. Speaking at Ibec’s President’s dinner in Dublin tonight, Leo Varadkar said there would be a particular focus on helping those in retail, hospitality, manufacturing and other…

The organisation that represents the suppliers of the majority of medicines in Ireland has warned of an increasing risk of shortages due to the impact of inflation. Medicines for Ireland (MFI) said that there are currently 186 medicines listed as being in short supply by the Health Products Regulatory Authority. MFI said that without an…