Archive for April 2021

Business groups have largely welcomed the latest Government plan for the reopening of the economy, which will see sectors reopen on a phased basis from 10 May. On that date, hairdressers will reopen. The Irish Hairdressers Federation welcomed the news, saying their focus is now on reopening the sector safely and responsibly on 10 May.…

Is this really the beginning of the end of the economic misery that’s been heaped upon the country for the past 13 months?
 That’s the question that thousands of business owners and their staff across the country are asking themselves, following the latest reopening plan announcement. For pubs that haven’t served a pint in 15…

A new report from the Central Bank indicates that lending by banks has begun to recover this year, particularly in the mortgage market. However, it warns that unexpected bad debts may stifle the supply of credit when Government supports are phased out. The report, which is published as part of the bank’s Economic Letter series,…

Certainty on financial supports and the reopening strategy for businesses over the coming months are required from today’s Cabinet meeting on Covid-19 restrictions, Chambers Ireland has said. The organisation, which represents 41 individual chambers of commerce around the country, said timelines for the reopening need to contain targets and be realistic. “First and foremost, the…

Retail sales volumes were 8.5% higher in March than in the same month last year, driven by growth in homewares and car sales, new figures from the Central Statistics Office show today. Sales volumes were down 1.9% compared to February, the CSO said. This followed a monthly decline of 20.7% in January and an increase…

Almost half of businesses surveyed by the Central Statistics Office had employees either on the Pandemic Unemployment Payment (PUP) or the Wage Subsidy Scheme (WSS) in January of this year. 46.6% of almost 243,000 firms across a range of sectors were in receipt of some form of support. This compares to a peak of 57%…

Retailers have expressed deep concern at Government plans to introduce minimum unit price (MUP) rules for alcohol before similar measures are put in place in Northern Ireland. Retail Ireland has warned that such a move, without alignment with the North, is likely to lead to a surge in cross-border shopping, with people travelling into Northern…

The Minister for Finance, Paschal Donohoe, has said expenditure by the Government will be higher than the average 3.5% increase in core spending detailed in the Stability Programme Update. Minister Donohoe was responding to a question from Sinn Féin spokesperson on finance, Pearse Doherty, at an appearance before the Oireachtas Committee on Budgetary Oversight this…

A new report from the Central Statistics Office finds evidence that Brexit has led to an overall decline in trade between Ireland and the UK in food and drink products and a decline in Irish trade overall. The report – entitled ‘Food and Agriculture: A Value Chain Analysis’ – compares exports of food and drink…

The chief executive of the employers’ group Ibec has written to the Government to outline what the organisation sees as the key priorities for the reopening of the economy. In the letter sent to the Taoiseach and other ministers, Danny McCoy said Ibec thinks the priorities strike the correct balance between the ongoing public health…