Motor tax hikes, D’arcy quits politics for IAIM, and Sprout’s takeaway pivot

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

Senator Michael D’arcy of Fine Gael, pictured in 2019 as Minister of State for Financial Services and Insurance launching a new strategy for the international financial services sector. Photograph: Alan Betson / The Irish Times

Senator Michael D’arcy of Fine Gael, pictured in 2019 as Minister of State for Financial Services and Insurance launching a new strategy for the international financial services sector. Photograph: Alan Betson / The Irish Times

 

Prices of popular new cars could rise by up to €10,000 if recommendations from the Tax Strategy Group are included in next month’s budget. Our motoring editor Michael McAleer runs through the numbers.

Former junior finance minister Michael D’Arcy will resign his seat in the Seanad to become chief executive of the Irish Association of Investment Managers, the representative body for the funds and investment industry here. Cliff Taylor reports a move that could cause quite a stir in political circles.

Healthy eating deli group Sprout pivoted into takeaway services and supplying organic vegetables from its farm in Kildare to food retailers in Dublin in response to the impact of Covid-19 on the economy. Ciarán Hancock has the details.

Dublin Chamber has joined the chorus of lobby groups calling for a reduction in the tax businesses pay when assets are sold at a profit, a change it suggests could boost investment as the Republic moves to reboot its economy. Peter Hamilton reports.

Some 67 financial firms either entered the Irish market or expanded their presence here in 2020 despite the Covid-19 crisis, according to Irish Funds, an umbrella group for the industry. Eoin Burke-Kennedy has the details.

The Irish arm of delivery group UPS grew its turnover in the Republic by almost 350 per cent last year to €3.8 million, recently filed accounts show. Peter Hamilton reports on the accounts.

Columnist Chris Johns says the recent report on pay and conditions at British online retailer Boohoo highlights the need for minimum and living wages to rise substantially if issues around inequality in the digital economy are to be tackled.

In her weekly column, Pilita Clark looks at the looming legal minefield of working from home.

With construction costs softening in the pandemic, the State should begin a large-scale programme of house building around the country, says Micheál Mahon, president of the Society of Chartered Surveyors Ireland, in our opinion piece.

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