EU to suspend budget rules as ECB relaxes regulations

The European Commission has said the EU would suspend its strict rules on public deficits to allow governments to open the money taps to face the coronavirus pandemic. In an unprecedented decision, Brussels triggered something called the “general escape clause”, giving countries free rein to “inject spending into the economy as needed,” EU chief Ursula […]

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EU budget summit ends with no agreement

A marathon EU summit called to set the next seven-year budget ended in impasse tonight after the 27 member countries failed to find common ground. The two-day gathering saw a stand-off between poorer countries and “frugal” member states seeking to rein in spending. The departure of the UK means there will be a hole of […]

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EU budget summit ends with no agreement

A marathon EU summit called to set the next seven-year budget ended in impasse tonight after the 27 member countries failed to find common ground. The two-day gathering saw a stand-off between poorer countries and “frugal” member states seeking to rein in spending. The departure of the UK means there will be a hole of […]

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Significant gaps as EU budget negotiations to resume

EU leaders will resume negotiations this morning on the seven year budget after failing to make any breakthrough in talks late last night. There are still significant gaps between bigger net contributors and poorer member states over the size of the budget and what the spending priorities should be. Leo Varadkar is expected to join […]

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EU leaders face tough negotiations over budget

EU leaders will gather in Brussels in an attempt to reach agreement on the next seven-year budget which faces a shortfall of up to €75 billion due to the UK’s departure. A number of richer countries want to limit the increase in the budget to 1% of gross national income, but they are facing strong resistance from […]

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Fuel prices rise as Dáil passes Budget 2020 carbon tax increase

Fuel prices rise as Dáil passes Budget 2020 carbon tax increase Some key taxation elements of Budget 2020 were passed by the Dáil last night, including the controversial increase in the carbon tax. The number of deputies who voted in favour of the measure was 97, with only 36 opposing the increase and two TDs […]

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Ireland was a net contributor to the EU budget in 2018

Ireland was a net contributor to the EU budget in 2018 Ireland was a net contributor to the European Union budget to the tune of €315m in 2018, according to the latest report by the EU’s financial watchdog. The sum represents an increase from €173m in 2017 and €181m in 2016. However, officials expect Ireland’s […]

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Donohoe says absolutely no surprises in Budget 2020

Donohoe says absolutely no surprises in Budget 2020 The Minister for Finance has said there will be “absolutely no surprises” in the Budget to be outlined this afternoon. Speaking as he arrived at the Department of Finance this morning, Paschal Donohoe said all of the main features of Budget 2020 are well known. He said […]

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Consumer sentiment falls to 6 year low on Brexit fears

Consumer sentiment falls to 6 year low on Brexit fears Consumer sentiment here fell to a six-year low last month, the third month in a row in which it has fallen. According to the KBC Bank Ireland Consumer Sentiment Index, Brexit uncertainty continues to drive people’s confidence in the economy and their personal finances lower. […]

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Economy on course for over €600m surplus

Economy on course for over €600m surplus The Government’s pre-Budget White Paper shows the economy is on course to deliver a surplus this year of €609 million. The White Paper also shows another significant overrun on corporate tax receipts, which are €800m higher than forecast at the start of the year. The White Paper is […]

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