Archive for February 2024

Minister of State Jack Chambers has said he believes the personal criticism of Minister for Transport Eamon Ryan by Ryanair CEO Michael O’Leary was “very unfair”. “I think that’s unwarranted to personally criticise a minister in that way,” Mr Chambers said. He said however that he fully supported the expansion plans from the daa, which…

Employers in the tech sector are facing challenges when it comes to wage pressures and the availability of talent. According to the 2024 Stelfox Salary Guide Survey, 70% of tech employers in Ireland say wage pressure is a major hurdle they will need to navigate in 2024, while an even greater number, 83%, are grappling…

The amount of tax collected by the State increased by almost 5% in January when compared to the same time last year, driven by strong VAT and income tax receipts. The latest figures from the Department of Finance show that overall tax revenue for the month stood at €7.8 billion. January is a VAT-due month,…

There was a marked slowdown in the rate of expansion in activity in the services sector in January, according to AIB in its latest Purchasing Managers’ Index. The overall index came in at 50.5 in the month – just above the 50 breakeven point that separates expansion from contraction in a given sector. It was…

The global economy is on course to hold up better this year than expected only a few months ago as an improved outlook in the United States offsets euro zone weakness, the OECD said. World economic growth is expected to ease from 3.1% in 2023 to 2.9% this year, better than the 2.7% expected in…

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,…

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…

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.…