Govt urged to reduce alcohol, hospitality VAT rate to 5%

The Irish drink and hospitality sector is urging the Government to deliver a VAT reduction in the July stimulus economic plan. The call comes after the UK announced it was cutting VAT (Value Added Tax) on hospitality services from 20% to 5%. At present, there is a 13.5% VAT rate in Ireland for hotel, tourism, food and drink services. The Restaurants […]

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Govt may extend rent freeze

The Government will consider extending a rent freeze and moratorium on evictions which was introduced as an emergency measure at the start of the Covid 19 crisis. The measures were due to expire on July 20th, but the Minister for Housing, Darragh O’Brien, has told the Dail he will write to the Minister for Health, […]

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Hotels report occupancy rates of between 23-26% for summer months

Hoteliers here are reporting occupancy rates of between 23 and 26% for the summer months, according to figures from the Irish Hotels’ Federation.  This is based on confirmed bookings and compares to an average 90% occupancy over the summer months last year. The IHF said that occupancy for September, traditionally a popular time for US […]

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House prices down 3.3% so far this year, rents up 0.2% – Daft.ie

House sale prices fell by an average of 3.3% in the year to June, according to the latest Daft.ie Housing Market Report.  Daft.ie’s new monthly report looks at the health of both the sale and rental markets, with figures showing a 0.2% rise in rents nationwide in the year to June this year. The report reveals […]

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Dramatic rise in online scams during pandemic

Fraudulent emails and text messages tricking people to share personal and banking details increased during the Covid-19 crisis, according to gardaí. They have also issued a warning to ‘staycationers’ who are being targeted by cyber criminals on fake and cloned websites purporting to sell holiday equipment.  The bogus websites advertise caravans, campervans and small pleasure boat sales in a bid to defraud […]

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Irish economy to shrink by 8.5% in 2020 before 2021 recovery

The European Commission has said that Ireland’s GDP is projected to contract by 8.5% in 2020. The economy here is then expected to grow by 6.25% in 2021, on the back of the pent-up domestic demand release and the global post-crisis recovery.  This compares with the Commission’s earlier forecast of a downturn of 7.9% for […]

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Irish economy to fall 8.5% in 2020 before 2021 recovery

The European Commission has said that Ireland’s GDP is projected to contract by 8.5% in 2020. The economy here is then expected to grow by 6.25% in 2021, on the back of the pent-up domestic demand release and the global post-crisis recovery.  In its latest economic outlook, the Commission said that economic activity here is expected […]

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Euro zone retail sales in record rebound in May as lockdowns eased

Consumers in the euro zone returned en masse to shops in May as lockdowns were eased, estimates from the EU statistics agency showed today, signalling a sharp recovery of sales after record drops in March and April.  Sales in the 19 countries sharing the euro zone rose by 17.8% in May from April, Eurostat said, […]

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Euro zone set for deeper recession, weaker rebound

The euro zone economy will drop deeper into recession this year and rebound less strongly in 2021 than previously thought, the European Commission forecast today, with France, Italy and Spain struggling the most due to the Covid-19 pandemic.   The EU executive said the 19 nation single currency area would contract by a record 8.7% […]

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Numbers on Pandemic Unemployment Payment fall as economy picks up pace

The number of people receiving the Covid-19 Pandemic Unemployment Payment has fallen from 439,000 last week to 412,900. This marks a decline of 26,100 over the last seven days, according to the latest figures from the Department of Employment Affairs and Social Protection. However, 63,000 PUP recipients have closed their claims in the last seven days […]

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