Business News

The pay and conditions of hospitality workers has hit “rock bottom” and people are afraid to speak out about it, an Oireachtas Committee has heard. SIPTU organiser Denis Hynes told TDs and Senators that current labour shortages in the sector were not due to the Pandemic Unemployment Payment, but rather as a result of poor […]

The Irish Fiscal Advisory Council (IFAC) said the Government has put the economy on a more “prudent path” after Budget 2022. IFAC said that in following its spending rule “even as revenues have surprised on the upside, the Government has the economy on a more prudent path that will reduce borrowing and the debt ratio […]

Minister for Finance Paschal Donohoe has announced €1.5bn in extra spending and tax cuts in Budget 2022. He said the measures would tackle the rising cost of living, while putting the public finances on a sustainable path as we emerge from the pandemic. But the Opposition accused the Government of being “out of touch” and […]

Workers who pay income tax at the higher rate should see their take home pay rising by around €420 next year as a result of changes announced in the budget. An increase in the standard rate tax band by €1,500 will see the threshold at which they pay the 40% higher rate of income tax […]

Budget 2022, which will be announced this afternoon by Minister for Finance Paschal Donohoe, followed by Minister for Public Expenditure and Reform Michael McGrath is expected to be a €4.7bn package – with €1bn in new spending and half a billion euro in tax cuts. An increase of €5 in the main weekly welfare payments […]

Thousands more carers are in line to receive the Carer’s Allowance under changes expected to be announced in the Budget tomorrow. It comes as an extra €200m in the Social Protection allocation was finalised tonight. The means-test for carers will be broadened to allow couples with a weekly income of up to €750, and single […]

Figures from the Department of Social Protection show that for the first time since the start of Covid-19, the number of people in receipt of the Pandemic Unemployment Payment has fallen below the 100,000 mark. Today’s figures show that the weekly payments valued at €25.1m are to be issued to 97,130 people in receipt of […]

Construction firms continued to experience strong growth in activity in September, despite the latest Ulster Bank Construction PMI easing for the fourth month in a row. The Ulster Bank Construction PMI – which track changes in total construction activity – posted a reading of 56.3 in September, down from 57.5 in August. Index readings above […]

An increase in the fuel allowance and a widening of the eligibility criteria for the payment are likely to form part of tomorrow’s Budget. The final details will be signed-off on at a meeting of Cabinet, ahead of an announcement in the Dáil. After last year’s Budget was overshadowed by the Covid-19 crisis, this year […]

Used car prices are now nearly 50% higher than they were just before the onset of the pandemic in January 2020, according to a new report by online marketplace, DoneDeal.ie. The research says the spike has been caused by a combination of the pandemic hitting supplies of new cars, as well as Brexit-induced trade barriers. […]