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Irish workers in line for big pay hikes over the next three years

The best news, analysis and comment from The Irish Times business desk

The global greening of major buildings for St Patrick's Day (including the Sydney Opera House) was scrapped some time ago by Tourism Ireland but the scattering of ministers to the four corners still continues in the name of promoting Ireland. Photograph: Jean-Pierre Bratanoff-Firgoff

Ciarán Hancock's face
Ciarán Hancock
Tue Mar 12 2024 - 06:37

Workers here are in line for their biggest pay hike in a decade with real incomes (adjusted for inflation) expected to rise by almost 9 per cent over the next three years, according to the Central Bank of Ireland. Eoin Burke-Kennedy reports.

Eoin also reports how the Central Bank’s latest economic bulletin expects new home completions in Ireland to rise to 37,000 by 2026, exceeding the Government’s target.

In our personal finance big read, Fiona Reddan examines how an enormous global wealth transfer from boomers to younger generations is on the way. 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.

Ireland’s Global Greening for St Patrick’s Day is over, but the Great Global Scattering of Ministers to promote the country is only warming up, writes our columnist Laura Slattery.

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In our Q&A, a retired couple are planning to move to the United States and are considering either selling their current home in Galway or leaving it as a joint inheritance to their three children. Dominic Coyle looks at the potential tax implications of both scenarios.

In Me & My Money, comedian Emma Doran recalls how she was a single parent at 18 and “so I started saving for a house”. She spoke with Tony Clayton-Lea.

There was continued growth in the supply of housing last year, with 32,695 completions in 2023, which amounted to a 55 per cent increase on pre-pandemic 2019 levels, according to a new report from the Banking & Payments Federation Ireland. Colin Gleeson reports.

The Central Bank of Ireland told the Department of Finance that a budget day scheme for mortgage interest relief would almost exclusively benefit homeowners aged over 40 who were the least likely to have challenges paying back their home loan. Ken Foxe has the details.

Donald Trump likes to think stock markets love him, but a recent study suggests otherwise, writes Stocktake.

Glanbia’s annual report shows that former managing director Siobhán Talbot retired from the business at the turn of the year with a remuneration package of €8 million, writes Cantillon.

Vodafone’s Irish business unit is to create 120 jobs in the next four years as part of a €35 million investment that will develop the company’s digital offerings for businesses. Ciara O’Brien reports.

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