The digitisation of the Irish economy could potentially be worth around €300 billion in 2023, accounting for 65% of economic output. That is according to forecasts by Amárach and the International Data Corporation contained in a new report by Microsoft Ireland. The research, which was carried out with over 360 business decision makers and technology…
Tag Archives: Ireland’s economy
The Government is expected to announce new financial supports for companies which have been negatively affected by the latest Covid-19 restrictions. Tánaiste Leo Varadkar has said that the new scheme must be targetted at helping businesses in the hospitality, late night and live entertainment sectors. The latest Covid-19 restrictions came into force on Tuesday and…
The new dedicated rescue process for small companies, that makes restructuring faster, cheaper and more efficient, launches from today. Similar to examinership, the scheme is available to eligible to all small and micro businesses in the country. However, examinership was seen as too slow and cumbersome for many small firms, leading the Government to accede…
Business representative group Ibec has said the economy is going through a period of “exceptional growth” despite Covid and that should allow the worst impacted sectors to be supported through the winter under the Employment Wage Subsidy Scheme. In its latest Quarterly Economic Outlook, Ibec expects the economy to grow this year by 13% and…
Two new reports from the Economic and Social Research Institute examine the flow of trade in services between Ireland and Northern Ireland and the factors influencing foreign direct investment in both jurisdictions. These are the first two reports to be published by the ESRI as part of the Government’s Shared Island Initiative. It is part…
The Pandemic Unemployment Payment (PUP) will have five rates when it reopens to new entrants laid off as a result of the latest Government Covid-19 restrictions from tomorrow. The top rate will be €350 and will be available to those earning €400 or more a week. Those who received wages between €300 and €399 prior…
The deficit in 2021 now looks set to fall to as low as €5 billion to €6 billion – only 1-1.5% of GDP – according to an economist. Conall MacCoille, chief economist at Davy, said that would amount to one of the smallest deficits in the OECD. His outlook is based on the latest exchequer…
The Revenue Commissioners have said there have been examples of “absolutely fraudulent behaviour” in relation to the Employment Wage Subsidy Scheme (EWSS). Chairman Niall Cody said these cases have been referred to gardaí and in the context of the overall money paid out, they are very small. However, he said Revenue was very concerned and…
Employment Wage Subsidy Scheme rates will be reduced from today as part of a plan to gradually wind it down. However, business groups and the opposition have called for the support to continue at the full rate because of the impact the most recently imposed Covid-19 restrictions are having on certain sectors. Last month, 25,900…
The Department of Social Protection has said 1.4 million social welfare recipients will receive their Christmas bonus next week. Pensioners, carers, people will disabilities, lone parents and those receiving long-term social welfare are among those who will get an additional 100% payment. The qualifying period for those in receipt of an eligible Jobseekers payment has…