Tag Archives: Ireland Economy

services sector growth

Steady service sector growth reignites inflationary pressures

The services sector covers areas as diverse as communication, financial and business services, IT and the tourism trade. The country’s services sector The country’s services sector grew at a strong rate again last month, reigniting inflationary pressures as both input costs and prices charged accelerated primarily on the back of higher wage demands, a survey…

Taxation Laws in Ireland

Recent Changes to Taxation Laws in Ireland

2022 saw a record amount of taxes collected in Ireland. Luckily, this also means an increase in tax returns to aid those struggling with Ireland’s current financial state. The following articles contain all you need to know about the changes to taxes in Ireland. Exchequer collected record €83bn in tax last year A record amount…

ECB rate hike

Update on recent European Central Bank rate hike

Mark Kennedy & Co. have written informing readers about the recent European Central Bank (ECB) rate hike and the effects it has had. Keep reading to stay updated on current events in the banking sector.  Banks to write to tracker customers following ECB rate hike The main retail banks have said they will be writing…

inflation surge current economic news

Stay updated on the current economic news

There are many events taking place in the world today. Not least of these is the Russian war on Ukraine which has affected all industries. The Central Bank predicted a downward spiral of the economy and the eurozone facing major inflation. As a result, employment rates and costs of living prove to be a dilemma….

Half of firms and workers expect pay to rise this year – Bank of Ireland Pulse

Half of firms are planning to raise basic pay for employees by an average of 4% this year, according to a survey of businesses and consumers by Bank of Ireland. A similar proportion of workers are expecting a pay rise of on average 3%, the bank’s Economic Pulse for January shows. It comes against the…

Trips to and from Ireland slump by 99% in April – CSO

New figures from the Central Statistics Office show “an unprecedented collapse” in overseas travel to and from Ireland in April as the effects of the Covid-19 crisis deepened. The CSO reported just 16,100 arrivals in April and 17,800 departures. This compares with monthly travel of more than 1.7 million in each direction the same time…

Economic confidence up in May but remains weak overall

Consumer and business sentiment rose slightly in May, albeit from a low base according to the latest Pulse survey from Bank of Ireland. Consumer confidence was up marginally in the month, while all sectors of business saw an improvement. That came as improving data on the number of Covid-19 cases in Ireland continued to improve,…

Covid-19 hits labour force towards end of first quarter – CSO

The Central Statistics Office’s latest Labour Force Survey shows that a total of 2,353,500 people were employed in the first quarter of 2020. This gives an associated employment rate of 69.8% for those aged between 15 and 64 years, the CSO added. But when the effects of the coronavirus are taken into account, the Covid-19 Adjusted…

EU Commission recommends Ireland broaden its tax bases

The European Commission is recommending that Ireland takes all necessary measures to effectively address the Covid-19 pandemic, sustain the economy and support the recovery that follows. It also says the tax base here should be broadened over this year and next. “The challenges facing Ireland in regard to poverty and employment quality and support, including…

Ireland could run €30bn deficit this year, Donohoe tells Dáil

Minister for Finance Paschal Donohoe has said that there is a possibility that Ireland will run a deficit of €30 billion this year. “We expect public debt to increase significantly this year,” the Minister said. Speaking in the Dáil, Paschal Donohoe said the deficit can be financed at low interest rates at the moment but he said sentiment…