Economy

Irish are living in homes ‘too large for their needs’

Seen & Heard: Government set to pull the plug on proposed public banking service

At least 70 per cent of Irish people are living in homes that are ‘too large for their needs’, according to Eurostat findings reported in the ‘Sunday Times’

Sun Jun 17 2018 - 13:12

Homes too big for needs

At least 70 per cent of Irish people are living in homes that are "too large for their needs", according to findings of Eurostat reported in the Sunday Times. The paper says this is more than any other country in Europe, where the average is just 35 per cent. It says the findings echo an earlier paper from the Economic and Social Research Institute (ESRI), which suggested older people downsizing could help to ease the Republic's housing shortage.

No public banking service

The Government is due to block the development of a German-style public banking service, according to the Sunday Business Post. Germany's Sparkassen had been seeking Government support to offer business loans here at rates of 1-2 per cent, but the paper says the Department of Finance is unwilling to provide up to €170 million in state capital funding to support the plan.

Dublin Airport infrastructure

Aer Lingus has warned it will redeploy new elements of its fleet away from Dublin Airport if the infrastructure is not improved. The Sunday Independent reports on a letter from the airline's chief corporate affairs officer, Donal Moriarty, to the aviation regulator, in which he warns that growth at the airport could "grind to a halt" as early as next year because it lacks appropriate plans to address capacity constraints. The paper also reports that a new 421-bed hotel close to Dublin airport has got the go-ahead after a long planning battle. The development by Carra Shore (Dublin) was cleared after objections from local residents were withdrawn.

Bank of Ireland job cuts

Up to 2,000 Bank of Ireland jobs are at risk as part of ambitious plans to reduce costs, according to the Sunday Times. While the bank's chief executive, Francesca McDonagh refused to detail the scale of expected job cuts, the paper claims analysts reckon it could be as high as one in five of the 11,000 workforce.

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Residency permits for investors

The Central Bank warned immigration officials that investors in funds linked to the Government's cash-for-visa programme had received residency permits even "when a fund had not launched", reports the Sunday Business Post. Uptake of the scheme grew more than 500 per cent in 2016,mainly from China, according to the paper.

TK Maxx opposes Ashley’s Brand Max

US retail giant TK Maxx has entered a spat with rival Sports Direct after the latter opened seven stores in Ireland in recent months with the title Brand Max. The Sunday Times reports the Mike Ashley retail firm applied for an Irish trademark for the brand earlier this year. However, TK Maxx filed its opposition to the name last month.

Could Horlicks be it?

US drinks giant Coca-Cola is considering a £3 billion bid for Horlicks, after GlaxoSmithKline put the 145-year-old British brand on sale, reports the Sunday Telegraph. Other potential bidders include Kraft Heinz and Nestle.

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