Recession threat from no-deal Brexit, Virgin attacks RTE funding, and innovation awards

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

Minister for Finance Paschal Donohoe: The ESRI says the Government may need to hold a supplementary budget early in the New Year if Brexit delivers a major shock to the Irish economy

Minister for Finance Paschal Donohoe: The ESRI says the Government may need to hold a supplementary budget early in the New Year if Brexit delivers a major shock to the Irish economy

 

The Government may need to hold a supplementary budget early in the New Year if Brexit delivers a major shock to the Irish economy, which could push it into recession, the Economic and Social Research Institute (ESRI) has warned. The think tank also forecasts a slowdown in housebuilding and has urged the Government to take a more “aggressive” approach to taxing vacant sites.

Any additional funding awarded to RTÉ in Budget 2020 will be a reward for inefficiency, Virgin Media Ireland has told the Government in a letter from chief executive Tony Hanway to Minister for Communications Richard Bruton.

Some 1,200 staff at Ballymena bus builder Wrights Group have lost their jobs after the company went into administration. Francess McDonnell assesses the role of Brexit in the closure.

Plans for the introduction of a hydrogen fuelling infrastructure for Ireland are accelerating, and a group representing those interested in using hydrogen as a fuel source is projecting that there will be 80 hydrogen filling stations by 2030.

The average national rent is 1,202 euro per month, 21 per cent higher than the peak in 2007, according to the latest Rent Index from the Residential Tenancies Board.

In our tech features, Ciara O’Brien looks at support online for parents and also reviews the latest Apple Watch, while Marie Boran reports from the recent Digital Summit conference, where the Public Service Card debacle was the talk of most delegates.

Irish companies are tackling some of the major environmental and energy issues facing our society today. We profile three finalists in the Sustainability category for this year’s Irish Times Innovation awards, addressing the problems of providing a secure energy grid, tackling agricultural emissions and creating a credible system for carbon credits.

In her Net Results column, Karlin Lillington outlines the hypocrisy of Google’s recent grant to a children’s charity to fund internet safety, while in his Innovation Talk column, Chris Horn calls for the creation of a chartered body to oversee the work of software engineers, particularly given the life and death impact of their work these days.

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