The Tourism Recovery Taskforce has called for radical steps to sustain and revive the industry post-Covid 19 including €120m in grant aid, a loan scheme and staggered school holidays. The Tourism Recovery Taskforce published its Tourism Recovery Plan 2020-2023 yesterday. Chair of the Tourism Recovery Taskforce and CEO of the Incoming Tour Operators Association Ruth Andrews said any longer-term…
The euro zone’s economic recovery faltered in September with growing evidence sectors and countries in the bloc are diverging as a resurgence of Covid-19 forces the reimposition of restrictions on activity. A rise in infection rates in Europe will concern policymakers who had hoped the euro zone economy was healing after contracting an historic 11.8% in the…
The number of people claiming the Pandemic Unemployment Payment has fallen to just under 206,000 – down almost 12,000 from over 217,000 a week ago. That is according to the latest figures from the Department of Employment Affairs and Social Protection. This week, 205,593 people will receive PUP payments, a reduction of 11,549 compared to last…
The Central Bank has said the economy has fared better than forecast during the pandemic but the impact on jobs has been worse. In its latest quarterly bulletin, the bank warns recovery will remain uneven and a ‘no-trade deal’ Brexit will hamper any growth next year. Ireland recorded the smallest fall in GDP across Europe due to…
A third of exporting firms have seen their sales fall so far this year, a new survey from Enterprise Ireland has found. The research also found that 85% of companies expect that Brexit will add up to 10% to their cost base. The survey of 728 firms conducted by Enterprise Ireland details the contrasting fortunes…
Business leaders have expressed surprise and concern at the recommendation from the National Public Health Emergency Team (NPHET) to move the entire country to Level 5 Covid-19 restrictions. Organisations representing firms said if such a decision is taken by Government, additional measures would be required to support businesses. Chief executive of the employers’ group Ibec Danny McCoy said that given…
The employers’ group Ibec has called on the Government to expand the employment wage subsidy scheme to include companies threatened by a no-trade deal Brexit. In its latest quarterly Economic Outlook, Ibec also says the key to next week’s Budget will be unlocking “turbocharged” savings by households. The employer’s group believes the key to the economy’s recovery, will…
Being informed about the latest financial news and important changes to legislation is essential when running a business. Resilient taxes can’t match ballooning Government spending The amount of tax collected has continued to defy the scale of the pandemic economic crash as shown by new exchequer data. However, there is still reason to be worried…
The state should maintain investment in capital infrastructure programmes despite the economic difficulties caused by Covid-19, but the construction sector must guarantee value for money, according to the Secretary General of the Department of Public Expenditure Reform. Addressing the Construction Industry Federation conference earlier today, Robert Watt said there was no imperative to cut back…
Small and medium sized businesses here could record a combined total shortfall in revenue this year of between €10.3bn and €11.7bn, according to a new analysis by the Central Bank of Ireland. However, the bank says the estimates are subject to significant uncertainty because of the current economic and health situation and the inability of…