News

Asian share markets rose today after Britain’s central bank launched an emergency bond buying programme to stabilise a furious sell-off in gilts, though trade was skittish and sterling remained under pressure. The Bank of England said it will buy as much as £5 billion a day of long-dated government bonds until October 14. It spent […]

Just over 5,500 mortgages were approved in August, up 5.5% on the previous month and 21.3% compared with the same period last year. New figures from Banking and Payments Federation Ireland show that almost 45% of the mortgages approved were for first-time buyers, while just over 20% were for mover purchasers. In total, the mortgages […]

It was, according to the Minister for Public Expenditure, Michael McGrath, a “budget for its times”. The biggest ever giveaway, in pure monetary terms, was necessitated by the emergency period we are living through. Just when things might have been expected to return to normal after a once in a lifetime pandemic, a new crisis […]

Tánaiste Leo Varadkar has said he does not envisage a mini-budget being implemented next year. Speaking on RTÉ’s Morning Ireland, Mr Varadkar said Budget 2023 is being front-loaded with most of the one-off payments before Christmas, while permanent increases in payments, pensions and welfare will come into effect in the New Year. Two of the […]

The Government has pledged to spend billions – but how much of all this extra monetary support will make it into your pocket? With winter looming amid an unprecedented cost of living crisis, now is the time for people to plan their own family budgets for the months and year ahead. Here are some of […]

Minister for Public Expenditure Michael McGrath said he is making €100 million available in 2022 to ensure schools are supported in dealing with energy cost pressures and transport providers. He said an additional €10 million will also be provided for further and higher education institutions. €60 million is being allocated to Local Authorities, and €110 […]

The Government looks set to unveil two new schemes worth over a billion euro to assist businesses with rising energy costs in tomorrow’s budget. It is understood that the first will be a €200m scheme which will be administered by Enterprise Ireland. It will target larger energy intensive firms that are involved in exporting and […]

Sterling steadied this morning but was perched above its record low only thanks to soaring yields on British debt and the hope of a response from policymakers or politicians. The pound’s movements were unnerving markets to the benefit of the dollar. On Friday and again yesterday the pound plunged, finding a record low of $1.0327 […]

The formal announcement of Budget 2023 will be made in the Dáil this afternoon. Minister for Finance Paschal Donohoe is due to begin his speech in the chamber at 1pm followed 45 minutes later by Minister for Public Expenditure and Reform Michael McGrath. The total size of additional spending and tax measures in today’s Budget […]

Sterling tumbled to a record low this morning as traders scampered for the exits on speculation the new government’s economic plan will stretch Britain’s finances to the limit. The British pound’s searing drop helped the safe-haven US dollar to a new two-decade peak against a basket of major peers. Sterling slumped as much as 4.9% […]