The increase in Government spending in response to the Covid pandemic over the first three quarters of last year was the second highest in the euro area, according to a report published by the Central Bank. In an ‘Economic Letter’ which sets out the views of Central Bank economists rather than the Bank itself, the…
Category Archives: News
Half of restaurants face permanent closure in the wake of the coronavirus pandemic, according to the lobby group which represents the industry. The Restaurants Association of Ireland will tomorrow call for the VAT reduction from 13.5% to 9%, which was introduced late last year, to remain in place until 2025. It will also demand that…
56% of employers who availed of the Temporary Wage Subsidy Scheme were overpaid under the scheme, and owe a total of €224m to the Revenue Commissioners by the end of June. This is according to the latest figures published by Revenue today. 66,500 employers availed of the Temporary Wage Subsidy Scheme on behalf of 664,000 employees…
The average loss to a small and medium enterprise here arising from fraud stood at just below €4,000 last year, according to research carried out by Bank of Ireland. The most common way in which an SME experienced fraud was via an invoice that appeared to be from a vendor but contained amended bank account…
There was a time in the last decade when the Central Bank’s mortgage arrears figures were as keenly anticipated as the property price figures from the Central Statistics Office. They’ve gradually slipped from public and media focus as the years have passed, but the problem hasn’t gone away. There remains a significant number of residential…
A public consultation on enhancing and reforming the remit of the Personal Injuries Assessment Board (PIAB) begins today. Launched by the Minister for Trade Promotion, Digital and Company Regulation, Robert Troy, it is part of the Government’s Action Plan for Insurance Reform. The objective of the consultation is to enhance the board’s remit, to bring…
Irish family firms cut more jobs in the past year when compared to their European peers, according to a new report. The study by the Step Project Global Consortium and KPMG Private Enterprise found that employment in Irish family firms was 15% lower than pre-pandemic levels. That compares to a fall of 4% across European family…
There was a marginal decline in the number of mortgage accounts on private residences that were in arrears at the end of December, according to the Central Bank. 54,986 mortgage accounts were in some form of arrears by the end of the year, a decline of 0.8% – or 462 accounts – over the three…
Essential workers including those in retail, transport, cleaning and food service should receive a living wage with access to an occupational pension, according to the Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar. However, addressing a seminar of the Employment Bar Association, Mr Varadkar failed to indicate any time frame for when the…
The stockbroker Davy need only look in the mirror when it asks itself how things went so catastrophically wrong, the Director General of Financial Conduct at the Central Bank has said. Derville Rowland also told the Banking and Payments Federation of Ireland Membership Forum virtual event that consumer and investor protection begins with firms themselves….