The European Central Bank expects economic growth to rebound more slowly next year as the pandemic continues to weigh on output but the recovery could be quicker in 2022 than earlier thought, its updated economic projections showed today. In what it describes as the baseline scenario, the ECB expects GDP to expand by 3.9% percent…
Category Archives: News
There are “low expectations” that a post-Brexit trade deal can be struck between the European Union and Britain, European Commission President Ursula von der Leyen has reportedly told EU leaders. Ursula von der Leyen told leaders from the EU’s 27 member states that the “probability of a no deal is higher than of a deal”…
Following the COVID-19 crisis, several initiatives have been implemented to try to assist the economy to stabilize and several recovery plans are now underway. Retention and creation of jobs central focus of budget 2021 Jobs were always going to be center stage in Budget 2021 – not just creating new ones but clinging on desperately…
Britain and the European Union have scope to strike a trade deal but significant differences remain and real progress needs to be made to keep talking beyond the new deadline of Sunday, British foreign minister Dominic Raab has said. Speaking to the BBC, Mr Raab said that while he could not rule out a further extension…
Consumers will be faced with VAT and customs duty when Britain exits the EU on 1 January if buying goods from the UK. However, the changes are likely to result in an increase in the tax take for the Government. Revenue has outlined the costs which consumers will face after Brexit. Anything priced under €22…
Self-employed people in receipt of the Pandemic Unemployment Payment (PUP) will be able to earn €960 over eight weeks while also retaining their full entitlement to the payment following a change to the rules. The Minister for Social Protection, Heather Humphreys, said she was doubling the threshold from the current €480 over four weeks immediately…
Up to 6% could be knocked off Irish GDP if there is no Brexit trade deal, the Irish Fiscal Advisory Council (IFAC) has warned. Addressing the Oireachtas Select Committee on Budgetary Oversight, IFAC member Martina Lawless said the council’s analysis, informed by the work of the Department of Finance and the ESRI, found that even…
British Prime Minister Boris Johnson will travel to Brussels in an attempt to reach a breakthrough on a post-Brexit trade deal with European Commission President Ursula von der Leyen. Later this morning the European Commission is expected to approve a series of measures, agreed yesterday with the UK, on how to implement the Northern Ireland Protocol. However, diplomats are cautious…
The Taoiseach has told a meeting of the Fianna Fáil parliamentary party that significant differences remain on the issue of the level playing field in the Brexit talks. Micheál Martin said there is an ongoing risk of a no-deal Brexit, which would be very serious across the regions. He said, however, that there is a…
A survey of potential housebuyers by KBC Bank Ireland has found that about a fifth said the pandemic had resulted in increased interest in buying or moving house. But a similar percentage said it had resulted in diminished interest in buying property. This appears to reflect the divided fortunes of the population from the pandemic…