Eoghan Murphy, former minister of State at the Department of Finance, had accused other jurisdictions of regulatory arbitrage. Photograph: Cyril Byrne

Central Bank’s independence should not be impinged in bid to win inward investment

Philip Lane: he said one of the most attractive features Ireland could have for inward investment was a reputation for high-quality regulation

Philip Lane says regulator not responsible for promoting financial services sector

Faced with the complexities of Brexit’s impact, firm business planning is impossible. Photograph: iStock

The phoney war is over and there will be big shifts into and out of Ireland, says Cliff Taylor

Taoiseach Leo Varadkar. “The new Taoiseach needs to set Brexit preparation as the key economic priority.” Photograph: Aidan Crawley/Bloomberg

Political debate disappears down a rabbit hole each year as budget day approaches

A graph on a trader’s screen on the trading floor of ETX Capital in London shows the fall of pound sterling when the first UK election exit poll was released. Photograph: Glyn Kirk/AFP/Getty Images

Value of sterling, nature of Brexit and implications for island of Ireland all critical

The UK election has changed the game, no matter what Theresa May says about it now being business as usual. Photograph: Andy Rain/EPA

UK’s election result may mean its EU exit will not be as hard and damaging as we feared

Market uncertainty: traders will take their direction from political developments that could take some time to unfold, but some volatile moves are possible. Photograph: Clodagh Kilcoyne/Reuters

Cliff Taylor: We are deep into the realm of unknown unknowns about Brexit

 Minister for Finance Michael Noonan will leave the office with State’s economy in much better shape than when he took over. File photograph: Eric Luke/The Irish Times

Minister for Finance’s success in navigating bailout sowed seeds of controversy to follow

The UK currency dropped in the immediate wake of the exit poll by 2 per cent against the US dollar and the euro and was trading around 1.5 per cent lower an hour later. File photograph:  Daniel Leal-Olivas/AFP/Getty Images

UK currency drops in immediate wake of prediction by 2% against euro and US dollar

British Prime Minister Theresa May fell short of an overall majority

Euro climbs to over 88p in a move which will worry Irish exporters to the UK

For public servants, the pay deal delivers average rises of 6.6 per cent by 2020, or just over 2 per cent a year.

Deal will cost €180m next year and more in subsequent two years

Lloyds of London won’t be moving to Dublin, having chosen Brussels as its post-EU base.

With QBE and Lloyds choosing Brussels, time is running out to lure big financial firms here

Lloyds building in London. Lloyds will set up its EU base in Brussels

Cliff Taylor: Move by QBE to choose Brussels shows tough competition for Dublin

AIB headquarters, Dublin: the bank group made profits of more than €1.6 billion last year, allowing the planned stockmarket float to go ahead. Photograph: Bryan O’Brien

Flotation is underpinned by margins in excess of European norms and little competition

For the year to date income tax remains just over €200m   behind target. Photograph: iStock

Income tax is still behind and it is a mystery given the strong employment growth

AIB headquarters in Ballsbridge: If the Government sells its stake too cheaply and shares rocket after the float, it will be criticised. Photograph: Bryan O’Brien

State’s case to EU to loosen rules on infrastructure spending does not hinge on AIB

Former  Anglo Irish Bank chairman Seán FitzPatrick leaving  Dublin Circuit Criminal Court on Wednesday, after he  was acquitted on all charges  of misleading  auditors. Photograph: Collins Courts

Jaw-dropping errors have shaken public’s faith in handling of banking crisis

The two Fine Gael leadership candidates are both promising to reduce the tax burden, but they both also want to increase spending. They won’t have much scope to pursue this agenda in the Budget because the numbers just won’t add up. Fle photograph: Getty Images

FG contest: Due to EU fiscal rules and economic crisis there’s little room for error on Budget

 Leo Varadkar: says he favours a less onerous    ratio of national debt to GDP of 55%

FG leadership contender says move needed to free more cash for capital investment

Taoiseach Enda Kenny is to get an annual pension of €126,000 and an up-front lump sum of €378,000 when he retires as a TD. Photograph: Cyril Byrne

Favourable tax treatment enhances generous terms for retiring politicians

Taoiseach Enda Kenny: entitled a pension of about €126,000 a year, plus a lump sum on retirement of €378,000, the Dáil was told. Photograph: Cyril Byrne

Retiring politicians and public servants also benefit from favourable tax rules

Taoiseach Enda Kenny arrives at a European Union summit in Brussels in 2011 where leaders met to work out a deal to resolve the euro zone debt crisis and find a way to give the bloc’s bailout fund greater firepower. File photograph: Thierry Roge/Reuters

Post-bailout, pre-Brexit Ireland may be as good as it gets in terms of tax and spending

Michel Barnier, the European Commission’s chief negotiator on Brexit, with  Taoiseach Enda Kenny at Government Buildings on Thursday. Photograph: Paul Faith/Reuters

Ireland needs to be Brexit peacemaker to keep talks on track and prevent collapse

Brexit: The IMF has called on the Government to ensure it has room for budgetary manoeuvre. Photograph: Getty Images

Significant resources must be set aside in readiness for impending risks, warns IMF

US president Donald Trump thinks Ireland has done a good job in getting through the crisis by not increasing taxes. Photograph: Reuters

President Trump’s comments may have related to Ireland’s policy on corporate tax

At lower pay levels, those in the public sector earn 15%  more than their private sector counterparts. At higher pay levels, the cash amounts are almost exactly reversed, with those in the private sector doing better

Difference between public and private sectors has closed due to cuts in public pay

A television screen displays news footage relating to the result of France’s presidential election, as traders works on the trading floor of ETX Capital in London on May 8th. Photograph: Chris Ratcliffe/AFP/Getty Images

However, in these turbulent times, political risk has not been removed from the financial markets

There is probably close to two new buyers for every one new house on average. The housing squeeze, in other words, is getting squeezier.  Photograph: Cyril Byrne

The lack of adequate houses at all levels is one of the biggest issues Ireland faces

Britain’s Prime Minister Theresa May  and European Commission president Jean-Claude Juncker. If the talks collapse, it will be hard hat time. Photograph: Hannah McKay/Reuters

Irish business leaders will be watching nervously to see which way the talks go

A Border Communities Against Brexit protest at Government Buildings highlighted some of the issues facing the State. Photograph: Cyril Byrne

New strategy document also calls for help to manage period before new trade deal agreed

Germany’s chancellor Angela Merkel and British prime minister Theresa May: There is a complete lack of clarity over whether Ms May’s government is willing to make the kind of concessions which would make a softer Brexit possible. Photograph: Matthew Mirabelli/AFP/Getty

Cliff Taylor: If we learned one thing from financial crisis, it is big guns always win

US treasury secretary Steven Mnuchin ends a briefing at the White House after unveiling the Trump administration’s proposal to cut corporation tax from 35 per cent to 15 per cent.  Photograph: Carlos Barria/Reuters

However silver lining suggests plan for border tax on imports now on back-burner

US national economic director Gary Cohn and treasury secretary Steven Mnuchin unveil the Trump administration’s tax reform proposal in the White House on Wednesday. Photograph: Carlos Barria/Reuters

However, there is a silver lining as border tax looks like it’s on the back-burner

Pay and display: the boom-time rise in incomes was one reason we got in such trouble. Photograph: Nick Bradshaw

Pay restoration looks set to follow water charges and become the next political mess

“The Brexit talks are about damage limitation and the huge and lengthy challenges Theresa May faces may slowly be becoming clear in Downing Street”

Snap election in the UK could mean a softer Brexit which would benefit Ireland

At present the average cost of SME loans in Ireland is over 6.5%, more than twice the euro zone average

If loan scheme is similarly priced to funding for farmers, interest could be about 3%

Cystic Fibrosis sufferer and campaigner Jillian McNulty with Fianna Fáil leader Micheál Martin outside the Dáil on Wednesday after the HSE reached a deal on the provision of Orkambi. Photograph: Brenda Fitzsimons

Cliff Taylor: High-tech drugs budget now similar to routine spending on defence

A hardish Brexit could knock one percentage point off our growth rate for a few years. Photograph: Reuters

Brexit is just one of the unknowns making growth predictions tricky

Michael Noonan also explained how the State could draw on European Investment Bank funds for key infrastructural projects. Photograph: Brenda Fitzsimons

Minister tells Oireachtas committee any extra spending or tax cuts would be ‘modest’

The Department of Finance is expected to increase its growth forecasts – and this may mean some rise in the €1.2bn figure. Photograph: Aidan Crawley/Bloomberg

Irish economy’s growth should not blind us to reality in the upcoming budget process

Michael O’Leary: Warned that aircraft might not fly between the EU and UK for a time after spring 2019 exit. Photograph: Stefan Rousseau/PA

Caveat: Debate hinges on which airlines will be able to fly to and from which airports

The more prices accelerate ahead of incomes, the more difficult it will be for the average younger buyers to, in the words of the old cliché, get their first step on the housing ladder. (Photograph: Brian Lawless/PA Wire)

The more prices accelerate ahead of incomes, the more difficult it is for the average younger buyer to get on the first rung of th(...)

Dublin Bus: the fleet was out of service on Friday due to secondary picketing during an unofficial strike by transport workers as part of the Bus Éireann strike. Photograph: Alan Betson

Travelling public takes hit in the war between trade unions and Government

The UK’s exit bill relates to commitments already made to EU spending programmes and other liabilities. Photograph: EPA

Influential Bruegel institute sees UK needing to pay at least €25.4bn

Will economic sanity lead to an orderly Brexit deal? Or will political tensions lead to a collapse in the talks?

Theresa May’s comment that Brexit must not damage the Republic of Ireland rings a bit hollow

A European Union flag flies near Big Ben in London. Ireland’s interests stand particularly exposed in the Brexit negotiations. Photograph: Andy Rain/EPA

Failure to reach a deal would result in chaos and be dire for the UK and Ireland

NTMA chief executive Conor O’Kelly:  “Nobody has a crystal ball on interest rates.”

NTMA actively lengthens maturity of Irish debt to EU-record average of 11 years

British prime minister Theresa May:  will make statement to House of Commons on March 29th, the same day article 50 will be triggered. Photograph: Dimitris Legakis/EPA

Theresa May will pull the trigger on March 29th but real action won’t start until late May

President Michael D Higgins  hit out at an European Commission White Paper saying  it appears no one is  addressing the underlying issues honestly. Photograph: Dara Mac Dónaill

Instead of a grand plan, the union needs to take practical steps to address problems

Federal Reserve chairwoman Janet Yellen: Reaction to  a 0.25 point interest rate  increase in the US  shows how a few sets of positive economic figures and some nudging from those in charge can change expectations – dramatically – in a matter of weeks. Photograph:  Yuri Gripas/Reuters

Forecasts are uncertain but ‘normal’ growth appears to be returning in Europe and the US

The immediate reaction to the Fed bulletin was a fall in the US dollar. Photograph: Getty Images

Pressing fiscal question is when will the ECB be prepared to follow the Federal Reserve?

Michael Noonan has  said his meetings with US fund Cerberus ’were not inappropriate in any way’. Photograph: Dara Mac Dónaill

Minister says he was not given a chance to answer criticism of meetings with Cerberus

What deal will the EU and UK come to regarding the 800 million litres of milk the Republic annually imports from the North – and all the beef we export to Britain? Photograph: Kevin Miyazaki/The New York Times

Irish Government addicted to positive spin and playing down the hard details

There are  some indications that European Central Bank president Mario Draghi could preside over an increase in interest rates next year. Photograph: Getty Images

Cliff Taylor translates the ECB president’s comments on interest rates into plain English

UK chancellor of the exchequer Philip Hammond makes his maiden budget speech.

Projected growth looks good but Brexit impact and other variables could alter that

The amount of money water charges would have collected was not enormous in the overall context of the exchequer finances.

Relying on a small number of companies and individuals could prove dangerous

Eamon Ryan: “We have learned nothing from  before the economic crash where a lack of independent questioning led to unsustainable budget decision-making.” Photograph: Eric Luke

Greens leader slates delay in setting up office to advise Oireachtas members on budget

Theresa May: The British prime minister is under pressure to “deliver” a clean break with the EU. Photograph: Philip Toscano/PA

A big divorce row over the UK bill could poison or even derail Brexit negotiations

Michael Noonan: ‘There is a good case to reduce personal taxation rates further.’

Minister says sustained economic growth could allow for tax reductions in next budget

Champagne   disappeared from the CPI in 2012 –  but it’s back in now. Photograph:   Getty Images

Statistics body once counted pressure cookers and kippers - but no more

The European Commission report is critical of some of the key Government interventions in the housing market

European Commission says increased reliance on corporation tax also a concern

We have regained around two-thirds of the job losses which were sustained during the  economic crash

Davy stockbrokers says unemployment rate could fall towards 6% this year

Enda Kenny at a jobs announcement by Microsoft on Friday. Unless he can stage an unlikely comeback he needs to depart the stage quickly. Photograph: Alan Betson

With the country facing big decisions there is no time for a ‘long goodbye’

‘It is one thing for Trump to call on US companies to invest at home, but it is much more significant if he gives them a real financial incentives to do so.’

US president plans to increase taxes on those importing to sell into the American market

The split of Hewlett Packard led to the creation of HP Inc, which took on the consumer business and also Hewlett Packard Enterprises, which serves business customers in areas such as enterprise hardware and cloud computing. Photograph: Jim Young/Reuters

Close attention will be paid to whether Trump’s policies have affected move

HP Inc was formed in 2015 when the former Hewlett Packard split into two different companies.

Senior management due to brief staff at printer and PC business in Co Kildare

Market reaction: a trader works on the floor of the New York Stock Exchange as the Dow Jones Industrial Average passes the 20,000 mark. Photograph: Brendan McDermid/Reuters

If the US president delivers on his pledges, he will scare investors and trigger a trade war

Front covers of newspapers, ‘El Mundo’, ‘ABC’, ‘La Vanguardia,’ and ‘Expansion’ covering British Prime Minister Theresa May’s Brexit speech. Photograph: Carlos Alvarez/Getty Images

Previous economic crises have been a shock needing quick action: now we have no excuse

President Trump after his swearing-in. Part of his narrative is that current trade arrangements have disadvantaged middle America. Economists warn, however, that imposing tariffs could damage the very jobs he is trying to protect. Photograph: Timothy A Clary/AFP/Getty Images

New president may send early signals on trade in line with his promise to bring jobs back to the US

During his presidential campaign,  Trump  promised to reduce the main corporation tax rate from 35 per cent to 15 per cent. Reducing it to 15 per cent could be difficult, Ms Olson said

Corporation rate cut that was promised in election campaign could be around 20%

In general, the harder the Brexit, the worse it will be for the Republic, the Department of Finance study found. Photograph: PA Wire

A Department of Finance analysis has outlined exactly how bad things could get

Prime Minister Theresa May speaking at Lancaster House in London, where she outlined her plans for Brexit. Phoograph: Kirsty Wigglesworth/PA Wire

Cliff Taylor: The British prime minister’s key points explained

The arrival of Lloyd’s would pose particular issues for the Central Bank. Photograph: Chris Ratcliffe/Bloomberg

Irish capital remains on insurance market’s shortlist as it finalises plan to deal with Brexit

A “global Britain” may be forced to leave the European customs union. (Photograph: The Irish Times)

Downing Street braced for a hit on sterling but what should Ireland worry about?

“Trump has been a consistent critic of the trade policies of countries such as China for years. He has been elected on a ticket of doing something about it.” Photograph: Spencer Platt/Getty Images

Incoming US president’s stance on China has potential to start a war of attrition in trade

Markets are reacting to suggestions from Theresa May that Britain will not be part of the EU single market after Brexit.

British prime minister’s message to Europe: ‘We’re leaving, we’re coming out’

Average hourly earnings at the start of 2008 were €21.53, according to the CSO figures. They are now €21.55. We are, on average, getting paid roughly the same as we were pre-crisis. Photograph: Simon Dawson/Bloomberg

Many have seen a stagnation of living standards and USC is one major culprit

While the overall tax trends were solid, last year’s overpeformance was based on a stellar performance by corporation tax.

Still, any wobble on corporate taxation would quickly take the shine off State finances

The Office of the Revenue Commissioners: conceded that taxpayers had overpaid  in both of the appealed cases

No flexibility possible on four-year repayment rule, Tax Appeals Commission rules

Whether there is a transitional arrangement, and what it looks like, will be the bellwether for the Brexit talks that we all need to watch

Without a transitional deal things could get messy very quickly for Britain – and Ireland

The housing crisis has emerged as a key issue. High rents and the lack of availability of new homes is emerging as a block to inward investment and to the State’s attempts to attract banks from London to Ireland post-Brexit.

Business review of 2016: Challenges for next year include Trump’s election, Brexit, euro zone issues and the threat of election-re(...)

The main entrance of the Monte dei Paschi bank headquarters. Photograph: Max Rossi/File photo/Reuters

Italian banks may not be facing the same carnage but authorities need to move quickly

Unpredictable: the anticipated market collapse on the election of Donald Trump turned instead into a big rally for the US dollar and equity markets,  the so-called “Trumpflation” trade. Photograph: Randall Hill/Reuters

Ireland’s ability to muddle through and just get on with things is about to be tested

EU competition commissioner Margrethe Vestager: “decided to make a big call on Apple and Ireland”. Photograph: John Thys/AFP/Getty Images

There is plenty at stake as the Government prepares to take on European Commission

The European Commission ruled last August that Apple should repay €13 billion in back tax due to Ireland. Photograph: Bode Marks/EPA

In laying out its appeal Government has moved to pre-empt the EU Commission, which is expected to give full judgment on €13bn case(...)

‘The trickle down is not trickling – or at least not as much as it should.’ Photograph: Dara Mac Dónaill

Ireland Inc lobby remains strong. But it is no longer shooting into an open goal

 Janet Yellen:  she played down the changed outlook for interest rates in 2017. Photograph: Gary Cameron/Reuters

Market focuses on signals US central bank will increase rates three times in 2017

The Federal Reserve in Washington: had the Fed not increased interest rates, there would have been huge shock across the markets.

The global interest rate cycle is turning, but slowly and carefully

The NTMA building. The NTMA has to meet bond redemptions next year of some €6.2 billion.

New target is to sell up to €13bn in Government bonds

Kieran Wallace, special liquidator of IBRC. He announced on Tuesday that most unsecured creditors are to receive 25 per cent of what they are owed

First payout to unsecured creditors of former Anglo Irish Bank and Irish Nationwide

Mario Draghi, president of the European Central Bank: The ECB has been purchasing €1 billion in Irish government bonds a month, but this could fall to €400 million by next spring. Photograph: Martin Leissl/Bloomberg

European Central Bank is set to buy less of our debt, which could leave us in dire straits

Yet again the measurement of what is going on in the economy is distorted by the activities of multinationals

The ‘leprechaun economics’ effect is still distorting how we measure our economy

Mario Draghi knows the ECB must take great care in any move to unwind its stimulus programme.  Photograph: Bloomberg

Even if rock-bottom rates are on their way out, it will be a very slow death

Motor insurance premiums were climbing at an annual rate of 38.5 per cent in July. Photograph: iStock

CSO figures show prices still 11.7% higher than in same month last year

European Central Bank president Mario Draghi: Every arch of the presidential eyebrow will be analysed when talk turns to Italy. Photograph: Yves Herman/Reuters

ECB has to make some big policy calls while trying not to set off a panic in the markets

Anti-referendum posters displaying outgoing premier Matteo Renzi: Italy’s economy has fallen into political and economic uncertainty.  Photograph: Gregorio Borgia/AP

While No vote was priced in, markets await rescue plan for problematic banking sector

Demonstrators hold banners and shout as they protest against Italy’s prime minister Matteo Renzi, who has now said he will  resign,  outside Chigi Palace in Rome, Italy, on Monday, December 5th, 2016.  Photograph: Alessia Pierdomenico/Bloomberg

All eyes on the markets as euro and Italian bank shares hit by volatile swings

Supporters of a “No” vote in the constitutional referendum in Italy rally  near the Palazzo Chigi  after the end of the vote in Rome. Exit polls suggested  voters on Sunday overwhelmingly rejected constitutional reform proposals on which prime minister Matteo Renzi has staked his political future.  Photograph: Filippo Monteforte/AFP/Getty Images

PM suggests there are several winners of reform vote but only one loser - himself

Permanent TSB was fined €4.5m by the Central Bank over its Springboard subsidiary overcharging customers. Photograph: Alan Betson

Institutions will be fined and customers compensated but will anything really change?

Overall tax receipts so far this year at €44.684 billion are now €790 million or 1.8 per cent ahead of target. Photograph: iStockphoto

Strong income and corporate tax returns put Government finance targets for 2016 in sight

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