With most shops closed, it’s no surprise that VAT receipts fell precipitously last month. Photograph: PA

“So far, income tax receipts have also proven more resilient to the broader economic shock”. That was the Department of Finance’s take on the latest e(...)

The Department of Finance said  the shift to online may have partly offset the restrictions around physical shopping. Photograph: iStock

While the anti-coronavirus lockdown has prevented people from getting to the shops, it has not stopped many people from shopping. They’re just doing i(...)

VAT, which reflects retail activity, took the biggest hit, coming in nearly €1.6 billion (22 per cent) behind expectations at €5.7 billion for the five-month period. Photograph: PA Wire

Minister for Finance Paschal Donohoe has warned of “the long-term cost to the State” of providing financial supports to workers and companies affected(...)

 Minister for Finance Paschal Donohoe defended the slow pace of reopening the economy, saying that it will give consumers more confidence when it is complete. Photograph: Leon Farrell/Photocall Ireland.

Minister for Finance Paschal Donohoe has defended the Government’s slow reopening of the economy following the Covid-19 lockdown compared to many othe(...)

A closed shop on Grafton Street, Dublin. Photograph: Colin Keegan/Collins

Retailers have urged the Government to accelerate the reopening of the economy by allowing all shops to reopen from June 8th, as long as they have pre(...)

The pandemic’s impact has eclipsed problems – including an income squeeze from low interest rates, concerns over Brexit and a dysfunctional housing market – that had long had Irish bank shares trading at a discount to European peers.  Photograph: Nick Bradshaw

On Saturday, March 14th, two days after Taoiseach Leo Varadkar announced the closure of schools and called for outdoor mass gatherings to be cancelled(...)

The State’s spending watchdog said gross domestic product (GDP) is likely to have fallen by 15% to 21%  in April, which it said was broadly in line with the contractions seen or predicted in other countries. Photograph: PA

The Irish economy may have contracted by as much as 21 per cent in April, according to the Irish Fiscal Advisory Council (Ifac). The monthly estimate(...)

The properties at the centre of the C&AG report were part of a bigger portfolio of loans being acquired by Nama from Avestus in 2010. Photograph: Cyril Byrne

The Department of Finance is sceptical of a report by the Comptroller and Auditor General (C&AG) that Nama could have made up to €29 million extra(...)

‘By 2022 there is likely to be an exceptional rise in expenditure on the things we can’t spend on today.’ File photo. Photograph: Dominic Lipinski/PA

One of the unique outcomes of the collapse in economic activity due to the lockdown is the impact on household spending. Unlike the economic slump of (...)

A woman walks past a wall mural featuring figures from popular culture supporting social distancing in Tallaght, Dublin, by artist Emmalene Blake. Photograph: Sasko Lazarov/RollingNews.ie

In 2008, the State’s financial position was zapped in an instant. Tax revenues, which were tied to property-related activity, vanished in a puff of sm(...)

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