BANK OF IRELAND has scaled back its expectations of Ireland’s economic growth for 2011 – adding its name to a growing list of bodies that has baulked on its original forecast for growth. In its latest quarterly outlook, the bank forecasted growth of 0.5 per cent in GDP this year – compared to 1.5 per cent growth in previous forecasts.
Irish Economy
# irish-economy - Monday 4 July, 2011
Column: Yes, the global economy is in turmoil… but banks have to start lending
Ireland needs to order its banks to resume lending to small and medium businesses in order to fuel a recovery, argues Nick Leeson.
# irish-economy - Sunday 3 July, 2011
Column: Dear student, the Leaving Cert is damaging your brain
Economics lecturer Stephen Kinsella on second-level education’s “wheel of regurgitation” – and why the next generation of decision-makers must get rid of it.
# irish-economy - Tuesday 28 June, 2011
Consumer sentiment slips back to February levels
Latest consumer sentiment data shows a drop in June as people continue to worry about the economic outlook, retaining their jobs and a likely ECB interest rate hike in July.
# irish-economy - Thursday 23 June, 2011
The Daily Fix: Thursday
In this evening’s wrap-up: All eyes on Brussels, a new plant at Sellafield, some classic tourist no-nos, and Dublin Zoo’s latest arrival…
CSO reports mixed bag for Ireland’s growth
Although GDP grew in the first quarter of 2011, GNP fell, suggesting that the domestic market is still struggling.
# irish-economy - Wednesday 22 June, 2011
Ireland faces €200m hit if Greek economy crumbles
Ireland’s banks will escape any fallout, but the State and private institutions will lose out if Greece goes to the wall.
# irish-economy - Monday 20 June, 2011
Here’s how a new deal on EU bailouts could help Ireland escape a second one
A nutshell guide to how an amendment to the European Stability Mechanism could help Ireland get back on its feet.
# irish-economy - Thursday 16 June, 2011
Unemployment rate revised downward for first three months of 2011
The seasonal unemployment rate is down to 14 per cent – but mostly undoes the surprising surge from late last year.
Iceland’s finance minister: ‘Ireland shouldn’t copy our formula for default’
Ireland and Greece can’t follow the recovery mode as Iceland did, finance minister Steingrimur Sigfusson insists.
# irish-economy - Thursday 9 June, 2011
Income tax increases ‘not ruled out’ for December budget – Noonan
Michael Noonan tells the Dáil that the prospect of increasing income taxes for the first time in years isn’t off the table.
Rate of inflation rises to 2.7 per cent, but slowing
New statistics from the Central Statistics Office show that inflation increased by only 0.1 per cent last month.
# irish-economy - Wednesday 8 June, 2011
Three-quarters of professionals ‘would leave Ireland within three years’
Only five per cent of workers are sure the economy will improve by 2014 – with two-thirds believing it will continue to flag.
Positive consumer sentiment surged in May – ESRI
Consumers are more confident about the labour market, but less so about their own futures, new research shows.
# irish-economy - Wednesday 1 June, 2011
Unemployment rate increased in May, reaching 14.8 per cent
Figures from the Central Statistics Office show that the numbers signing on jumped by 2,600 in the month of May.
# irish-economy - Tuesday 31 May, 2011
The Daily Fix – Tuesday
In today’s Fix: Irish economy forecast to shrink this year; Aer Lingus pilots threaten industrial action; ‘sexy’ TDs; and the 100th anniversary of the launch of the Titanic.
Kenny again denies Ireland’s need for a second EU-IMF bailout
Opposition leaders try to make hay from a spate of cabinet disputes, but the Taoiseach insists Ireland’s economy will recover.
Meltdown: Ernst & Young predicts economy will shrink in 2011
Forget predictions of a modest growth – Ernst & Young’s forecast believes Ireland’s economy will contract by 2.3 per cent.
# irish-economy - Thursday 26 May, 2011
The 9 at 9: Thursday
Nine things you need to know by 9am: OECD calls for dole to be cut; Sellafield to be stress-tested by the EU; and why Cheryl Cole was dropped from the US X Factor.
# irish-economy - Friday 20 May, 2011
UCD’s Karl Whelan: Ireland faces needing a SECOND bailout
The current market conditions won’t allow Ireland to borrow through normal means by next year – leaving us in the lurch.
# irish-economy - Monday 16 May, 2011
Column: How our Government frightens the children with the ECB bogeyman
Ministers tell us the country will collapse if we burn the bondholders – but this is just a scare tactic. The Government has real options in dealing with debt, writes economist Michael Taft.
# irish-economy - Friday 13 May, 2011
European Commission pares back forecasts for Irish economic growth
Olli Rehn tells a briefing that Ireland’s economy will grow by 0.6 per cent – further bolstering the case for a bailout rate cut.
# irish-economy - Thursday 12 May, 2011
Annual inflation rate reaches 3.2 per cent in April
The Consumer Price Index rises 3.2 per cent, fuelled by a surge in the price of domestic utilities and housing.
# irish-economy - Thursday 5 May, 2011
Unemployment down slightly as Live Register is unchanged
Ireland’s rate of unemployment now stands at 14.6 per cent, down 0.1 from last month, with 439,200 signing on.
# irish-economy - Wednesday 4 May, 2011
“So far so good” for exchequer figures, Noonan says
The Minister for Finance says figures being published today will show the economy as being “better than on track”.
# irish-economy - Tuesday 3 May, 2011
Manufacturing output continues to grow – report
The pace of growth in manufacturing rose slightly in April, while new orders also remain strong according to NCB.
# irish-economy - Thursday 28 April, 2011
Retail sales down by 1.7 per cent, CSO figures say
The volume of retail sales rises by 0.1 per cent since February, but is down on last year – confirming a worrying trend.
# irish-economy - Tuesday 26 April, 2011
Factory gate prices fall by 0.2 per cent in March
Monthly factory prices fell again in March, but at a slower rate than in the previous year, new statistics show.
# irish-economy - Monday 25 April, 2011
What recession? Irish rank themselves in top 10 for optimism
A new Gallup survey of international wellbeing sees Ireland comes 9th out of 124 countries in how they rank their lives.
# irish-economy - Monday 11 April, 2011
# irish-economy - Monday 4 April, 2011
Exchequer returns show €7.1bn gap in first three months
Ireland spent €7.07bn more than it earned in the first three months of 2011 – a major jump on the €3.94bn from last year.
# irish-economy - Thursday 31 March, 2011
Stress test scenario of 50,000 repossessions “very aggressive”
The economist’s view: Ronan Lyons says the aim of the game is to convince the markets that Irish banks are still open.
# irish-economy - Wednesday 30 March, 2011
Unemployment stays at 14.7 per cent as live register rises
1,100 more people were signing on March, up by almost 11,000 on the same time last year but down on September’s peak.
# irish-economy - Thursday 24 March, 2011
One in three Irish businesses plan to expand in 2011
Confidence may be returning slowly to the Irish economy but funds to finance acquisitions are still hard to come by.
Economy shrank by 1.6 per cent in fourth quarter of 2010
The latest statistics from the CSO show that GDP fell by 1.6 per cent – but GNP rose – with overall declines for 2010.
Bond prices surge again after Portuguese budget defeat
The costs of borrowing for both Ireland and Portugal take a battering in the aftermath of the latter’s prime minister quitting.
# irish-economy - Monday 7 March, 2011
Rehn asks Germany for flexibility on Ireland’s bailout rate
As the Programme for Government agrees to seek a lower interest rate, Europe asks the main economies to look kindly.
# irish-economy - Tuesday 1 March, 2011
Governments handcuffed by manifestos and social partnership – report
Ambitious programmes for government and national pay deals ‘overwhelmed’ the Budget process, a review claims.
# irish-economy - Saturday 19 February, 2011
Barroso: I’m fully confident about Ireland’s economic recovery
The President of the European Commission tells an audience in Cambridge he expects Ireland to recover from its fiscal woes.
# irish-economy - Tuesday 8 February, 2011
NCB: Ireland may need EU help beyond 2013
Ireland’s economic recovery will be two-tier, says the stockbroking agency, with exports booming but weak domestic demand.
# irish-economy - Thursday 3 February, 2011
Parties clash over pre-election economic plans
Is FG changing its policies every day? Does Labour want to hand power to the EU? Is FF’s plan vague with “woolly targets”?
Your say
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Poll: Should Ireland be tougher on multi-national companies when it comes to tax?
AT A HIGH-profile US Senate meeting, technology giant Apple was accused of using Ireland as a ‘tax haven’.
The multinational firm, which employs 4,000 people in Ireland, reportedly avoided paying €34 billion in US taxes by negotiating a tax rate of less than 2 per cent with the Irish government – significantly lower than that nation’s 12.5 per cent statutory rate.
The Senate heard that American children are losing out on education because Apple is transferring profits to Irish subsidiaries.
However, the Taoiseach Enda Kenny has denied that Ireland is a tax haven and rejected claims that authorities had negotiated deals with multi-national companies.
So, today we want to know, what do you think? Should Ireland be tougher on multi-national companies when it comes to tax?
Poll Results:
Read: Ireland is Apple’s ‘Holy Grail of tax avoidance’>
More: US Senate: Irish tax havens are leaving US children without education>
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