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European Commission raises Irish, euro zone growth forecasts

14th February 2023

The European Commission has revised upwards its forecasts for economic growth this year in Ireland. In its Winter 2023 Economic Forecast, released today, the Commission predicts the economy here will grow in GDP terms by 4.9%, compared to its Autumn forecast of 3.2%. Growth next year has been revised upwards to 4.1% compared to an […]

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Commercial semi states paid out dividends of €199.4m

13th February 2023

Commercial semi-state companies last year paid out aggregate dividends of €199.4 million to the exchequer. The €199 million paid out in 2022 is a 31.4% increase on the €151.7 million dividends paid out by the semi-state companies to the exchequer for 2021. However, in a written Dáil reply to co-leader of the Social Democrats, Catherine […]

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Call for extension and streamlining of ‘extremely complex’ TBESS application process

13th February 2023

IMSE, the group representing small and medium sized firms, has called for the continuation of the Temporary Business Energy Support Scheme beyond the end of February and for the streamlining of the application process which it says is ‘extremely complex’ to apply for. The scheme – known as TBESS – covers 40% of the additional […]

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Consumer spending in January up 17.8% – Revolut

13th February 2023

Consumer spending last month rose by 17.8% compared to the same month a year ago, according to the latest data released by online bank Revolut. However, the growth in spending by the company’s two million customers here is likely to have been heavily influenced by rising inflation, as the cost of living last month was […]

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McGrath rules out introducing mortgage interest relief

10th February 2023

The Minister for Finance has ruled out introducing mortgage interest relief for owner-occupiers, warning that such a move could cost €655m a year. Speaking in the Dáil, Michael McGrath acknowledged that many mortgage holders were under significant pressure, as some lenders are charging up to 7% interest on home loan repayments. Sinn Féin urged the […]

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EU prepares response to new US green subsidy plan

10th February 2023

Confronted by competition from the US’s vast green tech investment plan, European leaders have opened the way towards a relaxation of their own restrictions on state aid. Meeting at their summit in Brussels, the 27 leaders agreed that a response was necessary to counter rising energy bills and the threat of unfair US competition. But […]

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Electricity customers to get payment of €89.10 – CRU

10th February 2023

will receive a payment of €89.10 as the charge to fund renewables is not needed due to the high wholesale price of electricity. The payment will be made in monthly installments of €12.73 from March to September. Customers will receive the payment as a credit on their bills. Pre-paid customers will have their daily standing […]

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Wednesday the most popular day for office workers

9th February 2023

Wednesday is the most popular day of the week for employees to work from the office, according to a survey by Dublin Chamber in association with Savills Ireland. Employers record an average occupancy rate of 61% to 70% on Wednesdays, with Tuesdays (51% to 60%) and Thursdays (51% to 60%) also proving popular. Unsurprisingly, Mondays […]

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Borrowers struggling financially urged to contact their financial institution

9th February 2023

Deputy Governor of the Central Bank, Monetary and Financial Stability, Vasileios Madouros has said borrowers who find themselves in financial difficulty or who expect they may experience financial difficulty should contact their financial institution. In an interview with RTÉ News, the Deputy Governor said while the Bank expects ‘there will be increased financial distress’ it […]

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€1.6 billion of personal loans drawn down in 2022, up 18.8%

9th February 2023

€1.6 billion worth of personal loans were drawn down last year, up almost 19% on 2021, new figures show today. The figures from Banking and Payments Federation Ireland show that €394m worth of personal loans were drawn down in the fourth quarter of last year, up 14.4% when compared to the same three month period […]

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