Robert Shortt

Economics Correspondent

Four projects have been announced as successful bidders in the country's first auction to generate electricity from offshore wind

Four successful bidders in first offshore wind auction

Eirgrid has announced the successful bidders in the country's first ever auction to generate electricity from offshore wind.

Business • 12 May 23

Michael McGrath said the current windfall of corporation tax presents a 'once in a generation' opportunity to make the public finances safer

McGrath says need for wealth fund 'blindingly obvious'

The Minister for Finance Michael McGrath has said it is "blindingly obvious" to him that the Government needs to set up a fund to save some of the billions of euro expected through a windfall of corporation tax in the coming years.

Business • 10 May 23

This year, the public finances are expected to produce a surplus of over €10bn

Wealth fund among options considered for €65bn surplus

The Taoiseach has said debt reduction, increasing some of the capital budgets, and the establishment of a new sovereign wealth fund, are among the options being considered for using expected surpluses in the public finances.

Business • 09 May 23

Ireland has the second highest share of workers with third level education in the OECD

Ireland's 'macroeconomic fundamentals' strong - NCPC

The National Competitiveness and Productivity Council has said that overall the country's "macroeconomic fundamentals" are strong.

Business • 05 May 23

ECB President Christine Lagarde said the bank had 'more ground to cover' and was 'continuing the process'

Unfinished business for ECB as more rate hikes on cards

The benchmark European Central Bank deposit rate is now 3.25%. The last time it was this high was October 2008. It's also the seventh successive rate increase since the ECB began to raise rates last summer. But it won't be the last, writes Robert Shortt.

Analysis and Comment • 04 May 23

Corporation tax fell by €91 million in April

Deficit of €3.7bn in public finances at end of April

A deficit of €3.7 billion was recorded in the public finances at the end of April, according to the latest figures from the Department of Finance.

Business • 03 May 23

Tax paid by the top ten biggest companies here went from accounting for 53% of corporation tax paid in 2021 to 57% in 2022

The Irish corporation tax bonanza

With little obvious sign of any imminent slowdown in the corporation tax bonanza, the political challenge here to use this windfall wisely will intensify.

Analysis and Comment • 29 Apr 23

The headline annual rate of inflation is estimated to have slowed to 6.3% in April, the CSO said today

Inflation slows to 6.3% in April from 7% in March - CSO

The headline annual rate of inflation is estimated to have slowed to 6.3% in April, compared to a rate of 7% in March, according to an initial estimate from the Central Statistics Office today.

Business • 28 Apr 23

At the end of December there were 712,145 mortgage accounts in Irish registered banks

Fifth of borrowers may face 50% hike in mortgage costs

A report by economists at the Central Bank has found the 20% of mortgage borrowers most exposed to interest rate increases could face higher repayments of between 41% and 50% due to interest rates hikes.

Business • 26 Apr 23

The amount of corporation tax collected by the State last year rose by 48% to €22.7 billion

57% of corporation tax returns in 2022 paid by 10 firms

An analysis by Revenue of corporation tax returns last year has revealed that the proportion paid by just ten multinationals rose to 57%

Business • 26 Apr 23