News

Government pandemic supports saved at least 4,500 Irish companies from going bust – an average of 50 companies every week, according to analysis by PwC which feature in a report ‘Act Now: From recovery to growth’. The author of the report said that while the businesses avoided insolvency, they will need further support to repair…

New data show that household budgets are coming under pressure as grocery price inflation reached its highest level since October 2020 at 1.7% in the 12 weeks to January 23. The data from Kantar show that the number of products being sold on promotion has dropped by 3% compared with last January. Kantar also said…

European Central Bank President Christine Lagarde appeared to downplay inflation concerns today, arguing that price pressures could still subside before becoming entrenched and high energy costs would be a drag on prices further out. Pointing to mounting inflation risks, the ECB opened the door last week to an interest rate hike later in 2022 and…

The number of cars on Irish roads has hit pre-pandemic levels, but there are fewer people travelling on public transport. This comes as ESRI behavioural research shows that while public levels of worry over contracting Covid-19 are decreasing, people consider public transport as a “high risk” activity when it comes to catching the virus. Data…

New figures show that spending in pubs and bars more than tripled on the day Covid-19 restrictions on socialising were eased. The latest Revolut Spending Report shows that the amount of money spent in bars was 212% higher on January 22 than it had been the day before, when the 8pm curfew was still in…

Taoiseach Micheál Martin has said the Government will look to see what it can do to alleviate pressure quickly on those who are hardest hit by inflation. He said this is “not going to be a mini-budget” but it will look at a range of charges from health to transport to see what it can…

Banking staff nationwide are being trained to spot the signs of financial abuse and coercive control. The move follows research which found that over 20% of women aged 18 to 34 do not have control of their finances. The Banking & Payments Federation of Ireland says younger women also find it difficult to collect money…

The European Central Bank kept policy unchanged as expected today, curbing stimulus over the coming months but maintaining plenty of support for the economy even after inflation unexpectedly hit a fresh record high. After the ECB extended support measures only in December, policy change was not expected to be on the agenda. But stubbornly high…

The Government faces a difficult decision on how to tackle the rising cost of living for poorer families while balancing environmental considerations, according to Professor of Economics at University of Limerick, Stephen Kinsella. High inflation is being driven by rising energy costs, and should the Government choose to subsidise fuel, it will have a negative…

Taoiseach Micheál Martin and Tánaiste Leo Varadkar have both signalled that the Government is going to take further actions to counter the rising cost of living. Opposition parties have regularly accused the Coalition of not doing enough to help off-set a spike in inflation. Addressing the Fianna Fáil parliamentary party last night, Mr Martin said…