Tax revenue drops again, State coffers’ climate hit and how to chase those airmiles

Revenues from tax on company profits will slide this year, ending a period of bumper returns for the exchequer, officials warned as the Government prepared to announce Budget 2024 next week. Barry O’Halloran has the story.

In his analysis, Cliff Taylor writes that the boom time for tax receipts of recent years appears to be well and truly over.

Irish Government efforts to reach its 2030 climate targets will result in a €5.5 billion financial hit to the public purse in the latter years of the decade, according to estimates from the Irish Fiscal Advisory Council. Joe Brennan reports.

Joe also reports that Datalex’s chairman of almost four years, David Hargaden, snapped up a further €90,000 batch of shares in the airline retail software company since it reported financial results late last month.

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In Money Matters, Brianna Parkins looks at the potential perils and pitfalls of chasing airmiles in the hope of landing that cheap business class seat.

Goodbody Stockbrokers has told staff it plans to cut 20 of the 100 jobs in its investment banking unit amid a global slowdown in deal-making and fundraisings and an expected acceleration of large companies leaving the Irish stock market, according to sources. Joe has the details.

The European Union has launched a review of key technologies including top-end microchips to decide whether trade protections are needed to stop critical know-how being acquired by rival powers. Naomi O’Leary reports.

The man behind well known south Dublin restaurant Dillingers has denied allegations of racial discrimination and workplace rights breaches levelled by his former head chef – accusing the chef of having such a temper that he considered calling gardaí on Christmas Eve two years ago. Stephen Bourke reports from the Workplace Relations Commission.

Dublin City Council has given the green light to Hammerson’s latest phase of its planned €500 million transformation plan for the city centre despite the opposition of Sinn Féin leader Mary Lou McDonald and her predecessor Gerry Adams. Gordon Deegan has seen the plans.

Bad news for commercial property: Investment in the Irish market plunged between July and the end of September to less than half the average level, according to CBRE. Ellen O’Regan reports.

In commercial property, Ronald Quinlan reports on the planned sale of New Ireland Assurance’s offices in central Dublin, while the State’s media watchdog has inked a deal to rent office space in Ballsbridge in Dublin 4.

Ronald also reports on the Opera Lane Collection, a portfolio of three retail units at the high-profile Opera Lane scheme just off St Patrick’s Street in Cork city centre on the market for €5.5 million, while industry experts assess the condition of the market and where it is going.

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