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Central Bank warns on inflation, pension tax breaks, and couple with €2.4m property loans have case rejected by Ombudsman

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

Then Minister for Finance Paschal Donohoe (right) and then Minister for Public Expenditure Michael McGrath at Government Buildings last year before unveiling Budget 2023. The pair have since swapped roles and have been warned by the Central Bank of Ireland against introducing a major package of tax cuts and spending increases this year that might overheat the economy. Photograph: PA

Ciarán Hancock's face
Ciarán Hancock
Wed Jun 21 2023 - 06:54

The Central Bank of Ireland has warned the Government that big tax cuts in the budget or spending increases above the 5 per cent spending rule are likely to “add significantly” to inflation and run the risk of overheating the economy. Eoin Burke-Kennedy has the details.

Pensions might be boring but they are still the best way to earn money tax-free, writes Brianna Parkins in her weekly Money Matters column. If you’d like to read more about the issues that affect your finances try signing up to On the Money, the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.

A couple who claimed they were recklessly loaned €2.4 million to buy six rental properties and a family home with a swimming pool during the Celtic Tiger have had their case rejected by the Financial Services and Pensions Ombudsman. Ellen O’Regan reports.

Financial services companies are hiring and promoting more women but the levels of female representation decrease as roles become more senior, a report compiled by the ESRI has found. Colin Gleeson has the details.

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Construction industry professionals have become less optimistic about the outlook for the sector over the past year, with access to finance and labour seen as particular issues, according to a new report produced by the Society of Chartered Surveyors in Ireland in association with PwC. Dominic Coyle has the details.

In commercial property, Ulster Bank has instructed agent Cushman & Wakefield to dispose of the first tranche of properties from its former branch network, with an initial 18 premises offered to the market. Ronald Quinlan reports.

The green transition will not happen without substantial financing for developing countries, according to Financial Times columnist Martin Wolf.

More than half of Irish IT leaders are not confident of their organisation’s ability to cope with the demands of artificial intelligence, a new survey has found. Ciara O’Brien reports.

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