Windfall taxes, priced out of the docklands and dole for the self-employed
Business Today: the best news, analysis and comment from The Irish Times business desk
A shopper carrying shopping bags. non-motor tetail sales grew at their fastest level in more than three years in March. Photograph: Dominic Lipinski/PA Wire
Surging corporation tax receipts and lower interest-rate repayments on the national debt have handed the Government an unprecedented fiscal windfall since 2015, writes Eoin Burke-Kennedy, equating to about €1.7 billion a year. The big question? What to do with it. The Central bank has some ideas.
Dublin City Council has opted not to acquireunits for social housing at three high profile new dockhand developments, as its plans for social integration continue to be hampered frustrated by premium docklands prices, writes Fiona Reddan.
Self-employed workers will be able to benefit from November from a welfare payment of €203 a week should they find themselves out of work. Fiona Reddan has the details of the measure which was first announced in the budget.
Fiona also writes that Ireland’s middle class is under threat from a combination of stagnant wages, soaring house prices and the rise of robots. But who is affected and what can they expect?
Alphabet Inc’s Google, meanwhile, failed to reap the benefits of a strong economy that bolstered rivals in the first quarter, leaving the search giant’s revenue below Wall Street targets on Monday.
Retail sales hit a three-year high in March once car purchases are excluded, as consumers shrugged off the threat from Brexit. Eoin Burke-Kennedy explains why.
But it’s not good news for everyone out there. A hotelier couple face the threat of prison in a seven-year battle over a debt that now stands at ¤25 million. A barrister for the receiver claims the pair have “seriously and wrongly distorted” decisions of the Supreme Court and the Court of Appeal. Mary Carolan was in court.
Better news up north as aerospace group Bombardier “suspends” compulsory redundancies at its Belfast plants, and will also reinstate 32 workers who had already lost their jobs. Francess McDonnell reports that unions reciprocated by deferring ballots on industrial action.
And sticking with aerospace, Boeing chief executive Dennis Muilenburg saw off shareholder attempts to oust him as chairman at a tense AGM, the group’s first shareholder meeting since the high profile crashes of two 737 Max planes saw it spiral into a crisis.
In her column, Laura Slatteryargues that an upbeat Twitter may be keen for “conversation” but can it stem the abuse that threatens usage and retain the affections of the advertising community.
Finally, Jaguar Land Rover is testing software at its Shannon base that will allow drivers of its cars to earn the Iota cryptocurrency as a reward for sharing data - such as congestion and the potholes, or for ride-sharing..
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