Author: Will Goodbody
The State’s tax revenue surged to €44.7 billion in the first half of the year, a 9% increase from the previous year, according to the latest exchequer returns. The boost was mainly driven by corporation tax, income tax, and VAT, resulting in an exchequer surplus of €3.1 billion by June. Corporation tax collection hit €12.2 billion, up by 15.4% compared to last year, with June alone showing a 38% increase. VAT receipts reached €11 billion, and income tax totaled €16.7 billion, reflecting a 7.5% rise due to increased employment levels. Despite exceeding revenue predictions, total government spending also rose to…
Early morning at Dublin Airport yesterday seemed like a funeral procession with hundreds of somber Aer Lingus pilots clad in black, protesting for a 24% pay increase. After failed negotiations, the pilots escalated the situation with an indefinite work stoppage, causing massive flight cancellations and chaos for travelers heading into the holiday season. Despite management’s insistence on productivity changes for the pay hike, pilots remain steadfast in their demands. Tensions rose as talks collapsed, leading to further disruptions and cancellations. The stalemate has reached a critical point, prompting a fresh invitation from the Labour Court for talks on Monday. As…
The ongoing pay dispute between the pilots’ union IALPA and Aer Lingus management is currently being discussed in a bid to find a resolution. IALPA President Captain Mark Tighe has left the talks to meet with airline investors to update them on the situation. Aer Lingus has agreed to reduce the number of participants in the talks to three on each side to potentially make progress. Both sides remain hopeful but cautious about the outcome of the negotiations. Aer Lingus has canceled 270 flights due to the industrial action, impacting thousands of passengers. Pilots are engaged in a work-to-rule, refusing…
The ESRI Forecasts Continued Growth in Incomes for Irish Workers According to the latest Economic and Social Research Institute (ESRI) report, workers in Ireland can expect to see their incomes rise in real terms this year and next. The ESRI is predicting average earnings to increase by over 4% in 2024 and close to 5% in 2025. While inflation is expected to drop to 2.3% this year and further to 1.9% in 2025, the rise in wages should offset this decrease. The report forecasts a real wage increase of 2.2% in 2024 and 3.1% in 2025, allowing Irish households to…
Planning Reform Urgently Needed to Save Ireland’s Wind Energy Sector The wind energy sector in Ireland is facing a crisis, with up to 20% of existing onshore wind energy capacity at risk of disappearing by the end of the decade due to expiring planning permissions. Wind Energy Ireland has warned that without urgent amendments to the planning system, up to 76 windfarms across the country could be forced to shut down. While the organization is not seeking a planning exemption for existing windfarms, it is advocating for a streamlined renewal process to ensure the continued operation of these crucial energy…
Concert goers in Dublin this weekend may face taxi shortages, warned by the Taxis for Ireland Coalition due to major events like Taylor Swift, Longitude, Shania Twain concerts, Dublin Pride Parade, and GAA Championships bringing in 600,000 people. The coalition, pushing for more taxi services, stresses the importance of taxis for tourists and the nighttime economy. Eoghan O’Mara Walsh of the Irish Tourism Industry Confederation highlights the need to address the demand surge. The coalition urges the National Transport Authority and Government to increase taxi numbers to avoid long waits, particularly for late-night travelers and tourists. CEO Donall O’Keefe of…
One year ago, a seismic event unfolded at RTÉ that rocked the very foundations of the largest media organization in Ireland. The initial scandal involving top broadcaster Ryan Tubridy being paid more than publicly declared led to a series of revelations about accounting practices, governance issues, and misuse of public funds. The fallout from the scandal prompted an in-depth examination of RTÉ’s operations, leading to a significant overhaul of leadership, financial management, and transparency measures. The public’s trust in the organization was shattered, resulting in a decline in funding and a government bailout. Despite facing intense scrutiny, RTÉ has embarked…
Ireland has experienced a drop in international competitiveness, falling two places from last year according to the Institute of Management Development (IMD) World Competitiveness Yearbook 2024. Despite this, Ireland remains the most competitive country in the eurozone and has placed in the top five economies overall for the second year in a row. The National Competitiveness and Productivity Council (NCPC) attributes the drop to a decline in economic performance, particularly in Gross Domestic Product. While Ireland’s Business Efficiency ranking remains stable and infrastructure ranking has improved, government efficiency has seen a slight decrease. The NCPC points out that Ireland’s position…
Aer Lingus is facing planned industrial action by pilots, leading to the cancellation of 10% to 20% of flights from June 26 to June 30. Between 30,000 and 40,000 passengers will be affected by these cancellations, impacting families during peak holiday season. The Irish Airline Pilots’ Association is initiating a work-to-rule next Wednesday, focusing on pilots’ rights and pay. Aer Lingus has vowed to protect as many services as possible for customers amidst the dispute. Aer Lingus will provide affected customers with options to change flights for free, claim refunds, or vouchers. The ongoing dispute has caused uncertainty and anxiety…
Protect Yourself from Holiday Fraud: Almost €100m Lost to Scams Last Year Shocking new data reveals that nearly €100m was stolen through frauds and scams last year, marking a 16% increase from the previous year. According to FraudSMART, 95% of fraudulent transactions were attributed to card fraud, with a staggering 36% of gross fraud losses stemming from this specific type of fraud. While card fraud saw an 8.2% increase, other forms of fraud, like unauthorised electronic transfers and authorised push payment fraud, had lower volumes but higher average losses. It is crucial for consumers to stay vigilant, especially when making…