The European Commission and British government are discussing a possible grace period to allow retailers in Northern Ireland time to adapt to the significant changes that will come into effect on 1 January under the Northern Ireland Protocol. It is understood that a temporary adjustment period, if agreed by both sides, would mean that large volumes…
Category Archives: News
Consumer prices fell at their fastest rate in a decade in October, with prices down 1.5% compared to the same month a year ago, new figures from the Central Statistics Office show today. The rate of inflation here has dropped on an annual basis for seven months in a row since restrictions to stop the…
Ireland’s taxation system has been ranked as the number one concern among family businesses, according to the results of the first National Family Business Sentiment Survey published today. The report was compiled by the Family Business Network and professional services firm Smith and Williamson. Respondents called for a more progressive taxation regime with changes specifically…
The Irish food and drink industry has warned of serious economic disruption even if EU and UK negotiators reach agreement on a free trade deal in the coming days. Food Drink Ireland, part of IBEC, says the sector is the most exposed part of the most exposed country to Brexit, which is now just 50…
Talks between the UK and the European Union on a post-Brexit trade deal are likely to run into next week, missing a mid-November deadline, Minister for Foreign Affairs Simon Coveney has said. When asked when a deal was likely, he said: “I think it’s unlikely this week. Hopefully I’ll be proven wrong”. He made the comments in…
Mortgage rates in Ireland still remain elevated compared to the country’s euro zone neighbours, new Central Bank figures show. Ireland had the third highest mortgage interest rates across the euro area in September, the Central Bank said, with only Greece and Latvia higher. The average interest rate on new mortgages agreed here stood at 2.78%…
The Covid-19 pandemic will cause the Irish food service market to contract in size by nearly half this year, new estimates from Bord Bia have found. However, the report predicts that the sector will experience a recovery next year, even in the worst case scenario. The food service market includes food and drink consumed and prepared…
Ulster Bank is urging online shoppers to be on the lookout for more than just bargains this Black Friday and Cyber Monday, with criminals increasingly targeting unsuspecting shoppers on some of the busiest e-commerce days of the year. Ulster Bank’s annual fraud survey, which questioned 927 online shoppers, shows an increased awareness when it comes…
Researchers at the Economic and Social Research Institute have asserted that Ireland’s tax policy “could be one of the key contributing factors to the country’s strong economic performance”. In a paper titled ‘Effective Tax Rates in Ireland’ the authors show Irish tax rates on labour (income tax) have been consistently lower than the EU average. The same…
The European Union will impose tariffs on American goods worth $4bn starting today in a tit-for-tat escalation over illegal aid to aircraft manufacturers Boeing and Airbus. EU trade chief Valdis Dombrovskis yesterday expressed a preference to negotiate a settlement, saying the bloc would drop its duties if the US withdrew the tariffs it imposed on…