Author: Practicenet

On the money: Ireland’s minimum wage is now the second highest of all EU countries

POLICY makers across developed economies have struggled to lift wages since the great crash – a big factor in the slow return of inflation. While it suits many employers, it’s seen as one reason overall growth remains dangerously sluggish. Spain’s decision to hike its minimum wage by 22pc, even though unemployment remains high, signals a […]

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Higher rents and utility bills push consumer prices up

New figures from the Central Statistics Office show that consumer prices rose by 0.7% in January compared to the same time last year. The CSO said the gain came on the back of higher rents and mortgage interest repayments as well as increases in the price of electricity and gas and higher prices for food […]

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Property prices still rising – but easing rate of increase indicates slight cooling down

Property prices are continuing to rise, but the rate of increase is down indicating a slight cooling down. New figures from the Central Statistics Office show prices were up by 6.5pc nationally in the year to December. This compares with an increase of 7.2pc in the year to November and an increase of 12.1pc in […]

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€647m paid out to 39,800 affected tracker mortgage customers

Banks have paid out €647m in redress, compensation and costs to customers caught up in the tracker mortgage controversy, new figures from the Central Bank show. The number of borrowers identified as being affected by the issue had risen by 1,400 since the end of August to 39,800 by the end of December, the bank […]

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Spending by householders flat in January as bills for Christmas arrive

Spending by householders was flat last month as the bills for Christmas arrived. New figures from the Visa Consumer Spending Index show expenditure in shops was down 5pc in January, but online spending was up almost 10pc. This meant overall consumer spending was up just 0.01pc in January compared with a year ago. In a […]

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Varadkar expects UK to leave EU with deal but Ireland ‘continues to prepare for all Brexit outcomes’

With 44 days to go until the UK leaves the European Union, Taoiseach Leo Varadkar has said he believes a deal will be reached between the two. However, he added that Ireland would continue its preparations for all possible outcomes, including a no-deal scenario. Opening the European Financial Forum in Dublin today, Mr Varadkar also […]

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EU court ruling on Belgian tax breaks may affect Apple case

Europe’s second-highest court will rule tomorrow whether a Belgian tax break which benefited some 35 large companies is illegal state aid, a judgment which could provide clues to other tax cases involving Apple, Starbucks and Fiat Chrysler. As part of its crackdown on tax avoidance, the European Commission three years ago ordered Belgium to recover […]

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Anger as credit unions move to lower insurance death benefits

Credit union members have reacted angrily to moves by a number of the lenders to reduce a key insurance benefit. Most credit unions offer death benefit insurance and share insurance. These provide a payment when the member dies, at no cost to the members. But the high cost of providing the cover has seen credit […]

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No deal Brexit would see consumer prices rise – retail group

The imposition of tariffs in the event of a no-deal Brexit will inevitably see consumer prices rising here, according to Retail Ireland. Thomas Burke, director of the Ibec retail industry group, said the imposition of tariffs of up to 30 or 40% on some products couldn’t be absorbed by the retail industry. The sector, he […]

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Soft Brexit may be ‘blessing in disguise’ to halt overheating risk

How Irish policymakers manage the fall-out from Brexit – regardless of the form it takes – will be important for assessing Irish credit fundamentals into the future, according to Canadian credit rating agency DBRS. How effectively authorities use fiscal and macro-prudential policy tools to manage the eventual Brexit outcome are an important test in terms […]

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