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Economic hit from Covid less than expected but Brexit to impact next year – Finance

The Department of Finance has significantly revised upwards its outlook for the economy this year.  In a statement published this afternoon, the department has forecast that the economy, as measured by GDP, will shrink by 2.5% this year. But that compares to a forecast by the department in April that projected that GDP would shrink by […]

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UK GDP slumped slightly less than first thought in Q2

Britain’s economy shrank by a record 19.8% in the second quarter of 2020 when Covid-19 lockdown measures were in force. This was a slightly smaller decline than an initial estimate of a 20.4% fall in output, official figures showed today.  Output during the three months to the end of June was 21.5% lower than a year […]

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September consumer confidence sees modest improvement

Consumer sentiment improved marginally in September, recovering about half of the decline seen in August, a new survey shows today. The KBC Bank Ireland consumer sentiment index increased to 60.7 in September, a 1.8 percentage point gain that followed a 3.7 point drop in August. The September reading remains well above the low-point of 42.6 […]

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Government says income tax won’t change in Budget

The Minister for Finance has confirmed that the Government does not plan to make any changes to income tax, USC or PRSI in October’s Budget.  Paschal Donohoe said it is the view of the Government that it needs to hold the personal tax code steady and use it to respond back to the challenges facing […]

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Family businesses call for Capital Gains Tax cut in Budget 2021

The Family Business Network has today called for a reduction in Capital Gains Tax from 33% to 20% to spur investment in indigenous companies in its Budget 2021 submission. In its submission to the Department of Finance, the Family Business Network also recommended the extension of the Commercial Rates waiver until the end of 2021 […]

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Family businesses call for Capital Gains Tax cut in Budget 2021

The Family Business Network has today called for a reduction in Capital Gains Tax from 33% to 20% to spur investment in indigenous companies in its Budget 2021 submission. In its submission to the Department of Finance, the Family Business Network also recommended the extension of the Commercial Rates waiver until the end of 2021 […]

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EU Commission makes proposal on Britain, NI ‘goods at risk’

The European Commission has set out a proposal that would determine which goods moving from Britain to Northern Ireland should attract a tariff, and which would not, after 1 January, RTÉ News has learned. Under the Northern Ireland Protocol, goods moving from Britain to Northern Ireland will be deemed as being at risk of crossing the border […]

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Monthly mortgage approvals rise by 14% in August

New figures from Banking and Payments Federation Ireland show that the monthly growth trend in the number of approved mortgages continued in August, while they continued to be lower on an annual basis. The BPFI figures show that a total of 3,875 mortgages were approved in August. This marked an increase of 14.1% from July […]

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EU rebuffs UK attempts to accelerate trade talks

The EU has rebuffed attempts by the British government to intensify and accelerate negotiations in order to reach a future trade agreement by mid-October, RTÉ News understands. The ninth round of future relationship negotiations gets underway tomorrow in Brussels, with both sides at odds over the prospects for a breakthrough. Late last week Downing Street […]

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More than 1,300 businesses sign up for ‘Stay and Spend’ scheme

More than 1,300 businesses have registered for the Government’s Stay and Spend initiative, which aims to get people spending locally after the Covid-19 pandemic all but wiped out foreign holidays this year. However, there are significant differences in the number of businesses signing up in different areas of the country. About 350 of the total […]

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