The framework trade agreement which the United States and the European Union signed yesterday is worse than the trade deal that the United Kingdom reached with the US earlier, Hungarian Prime Minister Viktor Orbán has said. The deal imposes a 15% import tariff on most EU goods – half the threatened rate. The US and […]
Consumer sentiment fell to a near two-year low in July as concerns about the cost of living and tariffs on European Union exports to the US weighed, a survey showed today. The Credit Union Consumer Sentiment Survey slipped to 59.1 in July from 62.5 in June, nearing April’s two-year low of 58.7. The reading is […]
The European Central Bank left interest rates unchanged today after cutting eight times in a year, biding its time while Brussels and Washington negotiate over trade. The ECB cut its policy rate to 2% last month, halving it from 4% a year earlier, after taming a surge in prices that followed the end of the […]
The Department of Finance has confirmed the cost of reducing the 13.5% VAT rate to 9% for the hospitality sector would be €867.7m in a full year. In documents published today it broke the cost down to €134.9m for accommodation, €674.6m for food and catering, €19.8m for entertainment and €38.4m for hairdressing. The Tax Strategy […]
The Government is considering whether it should delay introducing a VAT reduction for the hospitality sector until the middle of next year. It is understood the aim would be to create the fiscal space for more tax cuts in next October’s budget. The Coalition’s programme for government contains a commitment to reduce VAT on the […]
Improving pricing transparency and giving the Injuries Resolution Board (IRB) more powers are among the main measures outlined by the Government to bring down insurance costs in the latest action plan on insurance reform. The plan, launched today, runs until 2029 and contains a total of 26 actions to bring down insurance costs, ten of […]
An overwhelming majority of Irish financial services organisations expect the sweeping regulatory changes emanating from the US to have an impact on Irish firms. The area where this is most obvious is tariffs. More than nine in ten organisations expect Irish firms to be hit by US regulatory changes, with more than two thirds concerned […]
The Government has announced the opening of a consultation period to allow stakeholders make submissions on the work permit occupations lists. The Critical Skills Occupations List consists of jobs that are in short supply in Ireland and across the European Economic Area (EEA) including roles in areas such as medicine, ICT, sciences, finance and business. […]
One-in-four businesses in Ireland have yet to take any action to prepare for the introduction of pension auto-enrolment ahead of its launch on 1 January 2026, according to a new survey. The research from professional services firm Aon found that only 7% of organisations have fully updated their internal systems and legal documents ahead of […]
The Government is allowing scope for €1.5bn of tax cuts in Budget 2026, according to the Summer Economic Statement. The spending package will be €7.9bn, which is a 7.3% increase on 2025. It means the total package of tax cuts and spending increases will be €9.4bn in the budget next year. However, the Summer Economic […]
