CALL FOR BETTER TAX DEAL FOR SELF-EMPLOYED - The Irish tax system is prejudiced against entrepreneurs and the self-employed, and Ireland's entrepreneurial culture is being stifled by tax discrimination. That is according to the Institute of Certified Public Accountants, who are meeting in Dublin today for their annual conference.
The CPA's David Fitzgerald said there was a perception in the 1970s that self-employees got away with paying less tax, which is why PAYE workers were given an allowance. Mr Fitzgerald said there was a higher level of tax compliance now, and it was inequitable for self-employed people to be taxed at a higher rate than a PAYE worker with a similar income.
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ECONOMIST BELIEVES OIL OVER-PRICED - It has been a big week for company news, along with stress over oil prices and concerns that Irish consumers are being ripped off on sterling products from the UK. The most pressing concern for consumers though, has to be the price of petrol at the pumps.
Robbie Kelleher of Davy said some of the most recent oil price rises would feed through to inflation over the next couple of months. But he said oil priced at $130 a barrel was 'seriously over-priced' and he would not be surprised if there were a fall back over the next six months.
Mr Kelleher said the economy was heading for a couple of slow years - as weakness in the construction sector spread to other areas - but this needed to be put into perspective after 15 years of extraordinarily strong growth. He added that he thought it would be a few months before the European Central Bank reduced rates.
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CURRENCIES - The euro is worth $1.5725 and 79.46p sterling.
