Young workers worse off than parents, ‘Port’ trademark row, and single people’s tax burden

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The lower earnings growth and the disproportionate impact of the pandemic on young workers reflects the fact that they are more likely to work in retail and hospitality. Photograph: iStock

The lower earnings growth and the disproportionate impact of the pandemic on young workers reflects the fact that they are more likely to work in retail and hospitality. Photograph: iStock

 

A combination of stagnant wages and higher housing costs have left young workers in Ireland financially worse off than their parents, according to a study by the ESRI. The research found that earnings have flat-lined for young people entering the Irish labour market and that workers in their 20s are – in real terms – earning less than they did in the 1990s and 2000s. Eoin Burke-Kennedy reports.

An Bord Pleanála told the Government it had “significantly under-estimated” just how much work would be involved in dealing with applications under the controversial Strategic Housing Application process, writes Ken Foxe.

The Porterhouse group has expressed confidence that it can continue to use “The Port House” as the name for its chain of tapas bars, despite losing a legal row to register it as a trademark within the EU after running foul of a body established to protect the reputation of Port wines. Seán McCárthaigh has the details.

Irish mobile and cloud security specialist CWSI has acquired Berkshire-based rival AVR International in a €5.2 million deal as it looks to expand its footprint. The new combined entity will have combined revenues of €15 million for 2020 with as much as 65 per cent of annual turnover expected to come from Britain in future years. Charlie Taylor reports.

As Decathlon reopened its Ballymun outlet yesterday for click and collect and appointment shopping, its managing director Bastien Grandgeorge spoke to Mark Paul about plans for the future, and the fact that its Dublin store currently sells the highest number of surfboards and kayaks out of all its 1,700 stores worldwide.

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You can read all of today’s Cantillons, with our take housing, vaccine patents, and potential staff shortages in the retail and hospitality sector, here.

With a return to offices looking increasingly likely after the summer, Laura Slattery asks if the pandemic exodus has put newsrooms on the at-risk list?

Are you single? If so, you’re bearing the brunt under Ireland’s tax system, writes Fiona Reddan in her personal finance column this week.

In this week’s Q+A, Dominic Coyle advises a reader who is considering moving back home from Canada and is wondering if Irish lenders will offer him a mortgage.Meanwhile , a US reader receiving mixed messages over tax liability on inheritance from her aunt is wondering what the tax rules are when family in the US and UK inherit from Ireland.

In his Stocktake column, Proinsias O’Mahony writes that markets’ valuation gap points to where long-term returns will be; that Warren Buffett is right about populist Robinhood; and that valuations matter, eventually.

In Me & My Money, Joanne Murphy, MC, motivational speaker and endurance athlete says she “held out for as long as possible without buying a Dryrobe”, but it was a worthwhile purchase.

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