EU REJECTS ICTU'S BES COMPLAINT - Over this past few months there has been a lot of publicity about business expansion schemes. They allow investors to put money into companies without paying tax on the money in order to help small companies grow.
But the Irish Congress of Trade Unions complained to Brussels that extending the scheme would only allow rich people to get richer. This morning it is being reported that the European Commission has rejected the ICTU complaint.
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HOUSE BUILDERS SEE SUPPLY PROBLEM - The number of new homes registered in the past two months is down 56% compared with the same period last year. This is part of a continuing trend.
Hubert Fitzpatrick of the Irish Home Builders' Association said the fall was due to a drop of a third to 12,000 in the number of planning permissions granted in Dublin last year. He believes there is demand for 25,000 homes a year in Dublin.
As a result, Mr Fitzpatrick said, there would be upward pressure on prices if demand continues to exceed supply.
Asked if house prices were not moderating, he said this was a reaction ot interest rate rises, and demand continued to be strong.
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MARKETS - The markets which caused such problems markets earlier this week are looking more stable this morning. Toyko's Nikkei index was 0.2% up this morning as the yen declined after its recent surge. The euro is worth $1.31 and 68p sterling.
