News

The Minister for Finance has said he expects Ireland’s corporation tax rate will be increased to 15% in 2024 for large companies that are subject to last year’s global tax deal. It follows a deal brokered at EU level earlier this week, which saw Hungary drop its opposition to a minimum corporation tax rate of […]

The Economic and Social Research Institute expects the economy to grow “at a significantly reduced pace” next year given the likelihood of recession in overseas markets and continuing cost of living pressures at home. In its latest Quarterly Economic Commentary, the institute also predicts that households with mortgages are likely to see their repayment burdens […]

The Minister for Environment has said he did not expect to see a significant reduction in energy prices in the next year or two, despite a dip in costs on wholesale markets. Eamon Ryan said suppliers had hedged a price at which to buy commodities in advance. However, Mr Ryan added he did not expect […]

Hungary has dropped its opposition to the introduction of a global minimum corporation tax rate of 15% as part of a wider deal with the EU allowing implementation to proceed. The country has agreed to unblock €18bn in financial aid to Ukraine, in return for reducing the amount of funding Budapest has seen frozen by […]

A survey from the AA shows that the average price of fuel dropped by an average of about 10% in December. The average price of a litre of petrol is now €1.60 per litre, a 17 cent or 9.8% drop since last month and the lowest average price for petrol since September 2021. The average […]

EU lawmakers have agreed to tougher draft gig labour rules ahead of negotiations with EU countries to thrash out details, drawing dismay from a lobby group whose members include Uber Eats and Deliveroo. The European Commission had proposed the draft rules a year ago to give Uber and Deliveroo drivers and delivery employees benefits. These […]

€4.8 billion worth of contactless payments were made in the third quarter of this year, the highest ever recorded. New figures from Banking and Payments Federation Ireland show that between July and September, the value of contactless payments increased almost 26% compared to the same time last year. There were over 285 million contactless transactions […]

32,426 new jobs were created by multinational companies with operations in Ireland over the past year, despite difficult economic conditions globally – the highest level of annual growth ever. When jobs lost during the same period are taken into account, the net number of new foreign direct investment related roles added over the last 12 […]

Activity in the construction sector here continued to slow down last month, the second consecutive month a decrease was recorded. The latest fall in the BNP Paribas Real Estate (BNPRE) Ireland Construction Total Activity Index was solid and the fastest since July. There was a particularly sharp acceleration in the pace of decline in housing […]

New figures show a 29% increase in insolvencies so far this year with corporate insolvencies expected to exceed pre-pandemic levels over the next two years. More than 500 corporate insolvencies have been recorded in Ireland so far in 2022, the latest insolvency statistics from Deloitte show. This marked an increase of over 29% from 2021 […]