The Cabinet this evening discussed a proposal to increase the State pension age by three months every year from 2028. This proposal is part of the report of the Pensions Commission that Minister for Social Protection Heather Humphreys has brought to Government. Under the recommendations, the pension age would reach 67 in 2031 and it…
The Organisation for Economic Cooperation and Development is expected to announce a revised Framework Agreement in Paris today on global corporate tax reform. The deal will see big multinationals pay an effective minimum global rate of 15%. Later today, Ireland will join 140 other countries in the global deal after Cabinet yesterday approved an increase…
Economy performing ahead of expectations – Varadkar Leo Varadkar, Tánaiste and Minister for Enterprise, is optimistic about the future of Ireland’s economy. We might get back on sustainable footing without increasing taxation or cutting on spending. Varadkar says that the goal of the government is to cut taxes and increase welfare in a “prudent fashion.”…
The Economic and Social Research Institute (ESRI) has become the latest body to forecast a robust recovery in the economy. In its Quarterly Economic Commentary, published today, the ESRI predicts the domestic economy will grow by just over 7% this year while GDP will grow by 12.6%. The report says this will ease the pressure…
The Cabinet will meet this afternoon to decide whether Ireland should sign up to sweeping global corporation tax reforms that would require the long-standing 12.5% rate to be increased to 15%. The plan also proposes changes to where companies would pay their taxes, that the Department of Finance has estimated could reduce Ireland’s tax take…
Labour is calling for a carbon tax credit for households in Budget 2022 to address the rising cost of gas and electricity. In its pre-Budget submission the party is seeking a credit of €200 for those with an income of up to €50,000 and living in a home with a BER rating of less than…
Taoiseach Micheál Martin has said the revision of the text of a draft OECD global corporate tax rate reform plan is a positive step. Diplomatic efforts are set to continue ahead of an expected final Irish Government decision tomorrow. An updated draft of the tax deal yesterday dropped “at least” from a proposed minimum global…
A stronger than expected recovery is forecast to result in activity in the domestic economy returning to pre-pandemic levels this year, according to the Central Bank. In its Quarterly Bulletin, published today, the Central Bank also warns that in the short-term surging demand and bottlenecks in the supply of some goods will lead to higher…
Residential development commencements jumped threefold in the second quarter of the year compared to the same period last year. The figures, compiled by Deloitte, also show a two-fold increase in the number of residential developments that commenced versus the first quarter of this year as pent up demand began to be released. “The large increase…
Minister for the Environment, Climate and Communications Eamon Ryan has said he is hopeful and confident that Ireland will “be able to be part of the solution” and sign up to a new global tax agreement. Speaking to RTÉ’s Morning Ireland Minister Ryan said that the final decision will be made by Cabinet on Thursday….