Younger people are leading the way when it comes to cashless living, with half of 18-24 year olds saying they never carry money. New figures from Royal London Ireland, a life insurance and pensions company, show that in total, 20% of people in Ireland never carry cash. Those over the age of 55 were less […]
The Tax Strategy Group paper on income tax has examined the issue of refundable tax credits. This is when those on low incomes do not earn enough to use up all of their available tax credits. A change would allow these taxpayers to receive the value of the unused credits. The Tax Strategy Group is […]
Euro zone firms’ demand for loans dropped to the lowest on record last quarter and a further decline is likely over the summer as lenders continue to tighten access to credit, the European Central Bank said today based on a survey of big banks. A key input in policy deliberations, the survey is further proof […]
Many Irish charities failed to meet their obligations under governance standards last year, according to the Charities Regulator. Its latest annual report shows that 41% of charities failed to file their annual finances and activities on time. The 11,506 registered charities are legally required to file annual reports within ten months of their financial year-end, […]
Oil prices rose today, buoyed by evidence of tightening supplies and economic stimulus in slow-recovering China. Brent futures were up $1.02 at $80.66 a barrel by 1134 GMT, while US West Texas Intermediate (WTI) crude climbed $1 to $76.65 a barrel. “The supply deficit that had been looming in the second half of the year […]
The pressures facing Irish consumers are fading but are far from finished, according to the Credit Union Consumer Sentiment Index, which showed the mood among consumers improved fractionally in July. Economist Austin Hughes said holidays and summer sales likely encouraged a pick-up in spending plans. However, a slight pull-back in household financial circumstances suggests consumers […]
New figures from the Central Statistics Office show the price of wholesale electricity in June rose by 11.3% from May, but fell by 35.6% compared to June of last year. The CSO said that the overall Energy Products Index increased by 9% since May of this year but slowed by 33.5% when compared with June […]
The chief economist at stockbroker Goodbody said he supports a proposed new capital spending stabilisation fund for the country’s “embarrassment of riches”. “The public finances have been the story of 2023 for the Irish economy,” Dermot O’Leary said. While he acknowledged that a sovereign wealth fund for corporation tax revenue is a good idea, he […]
The number of new homes that building work commenced on in June was down 16% on the previous month. However, compared to June of last year, the number of commencement notices lodged for residential properties was up 25%. In June work began on a total of 2,574 new homes around the country, down from 3,059 […]
The European Central Bank will raise interest rates by 25 basis points on July 27, according to all economists in a Reuters poll, a slight majority of whom were now also expecting another hike in September. Inflation in the euro zone has almost halved, down to 5.5% in June from a peak of 10.6% last […]
