Cost of building rising, companies on life support, and Budget 2022 coverage

Business Today: the best news, analysis and comment from The Irish Times business desk

Minister for Finance Paschal Donohoe will deliver Budget 2022 on Tuesday

Minister for Finance Paschal Donohoe will deliver Budget 2022 on Tuesday

 

The cost of building is rising at twice the rate that it was before the pandemic, according to a new survey, with supply bottlenecks and a shortage of labour exacerbating a post-Covid bounce in prices.

Fewer companies are going bust but the question is whether they are on artificial life support. Deloitte’s corporate insolvency survey says 36 per cent fewer businesses have run into trouble in the first nine months of this year but the Big Four accountancy firm tells Laura Slattery that they fear the full impact of Covid-19 restrictions on the Irish economy has still to materialise and will only become apparent when government supports are withdrawn.

Belfast-based start-up SideQuest has raised ¤2.59 million from investors to expand its platform for virtual reality (VR) games and apps. Charlie Taylor writes that the husband-and-wife founding team provides developers with a resource for uploading work in progress ahead of a public release.

In Q&A online, we look as how readers can be left out of pocket on gifts and purchases from the UK because they are simply unaware of some very specific tax requirements and reliefs.

And in our Opinion slot this week, Sherry FitzGerald residential managing director Marian Finnegan argues that private landlords require a more equitable tax treatment if the Government expects them to play a part in addressing the housing crisis, particularly given the very favourable tax structure offered to other investment vehicles.

Pilita Clark notices that women are more likely than their male counterparts to find themselves in the public gaze when they step out of line on conflict of interest rules – if only because there are still so few in high profile roles.

And in his column, Eoin Burke-Kennedy suggests that Ireland’s investment in capital infrastructure has been an independent source of macroeconomic instability, contrary to what it should be, and that this has played a key role in successive governments’ failure to get to grips with the failings of our public services.

Finally, Conn Ó Midheach outlines The Irish Times’s extensive coverage of Budget 2022 tomorrow.

Stay up to date with all our business news: sign up to our business news alerts and our Business Today daily email news digest. Also take a look at the issues facing Paschal Donohoe and Michael McGrath on our special budget website.