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Time is running out for Brexit deal, EU tells Britain

European Union diplomats have warned Britain that time was fast running out for a Brexit deal, and that it may already be too late to ratify one, as negotiators in Brussels began a last-ditch attempt to avoid a tumultuous exit at the end of December. EU and UK officials resumed intensive negotiations in Brussels this morning […]

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Proposed change to VAT refund scheme will impact jobs, retail sector – report

Proposed changes to a VAT refund scheme, availed of by non-EU residents who purchase craft and gift items here, will impact jobs, tourism and the retail sector, a report published today concludes. The study was conducted by economist Jim Power on behalf of the ‘Stop Another Tourism Tax’ Campaign – an alliance of independent Irish […]

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UK and EU still ‘far apart’ as Brexit talks resume

EU and UK officials are due to resume intensive negotiations in Brussels this morning on a future relationship treaty. Both sides are said to be still far apart on the most difficult issues. The UK’s chief negotiator has said he will not be changing the UK position that any deal must be compatible with what he […]

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40% of jobs here ‘disrupted’ by pandemic – EY

Two in every five jobs here have been disrupted by the Covid-19 pandemic, according to the accounting and professional services group EY in its latest Economic Eye report. The jobs have either been lost or are being supported by government interventions, including the Employment Wage Subsidy Scheme and Pandemic Unemployment Payment. The study found that, […]

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Consumer prices fall 1.5% in year to October – CSO

Consumer prices fell at their fastest rate in a decade in October, with prices down 1.5% compared to the same month a year ago, new figures from the Central Statistics Office show today.  The rate of inflation here has dropped on an annual basis for seven months in a row since restrictions to stop the […]

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Brexit grace period for NI retailers considered

The European Commission and British government are discussing a possible grace period to allow retailers in Northern Ireland time to adapt to the significant changes that will come into effect on 1 January under the Northern Ireland Protocol. It is understood that a temporary adjustment period, if agreed by both sides, would mean that large volumes […]

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Family businesses most concerned about tax system here

Ireland’s taxation system has been ranked as the number one concern among family businesses, according to the results of the first National Family Business Sentiment Survey published today. The report was compiled by the Family Business Network and professional services firm Smith and Williamson.  Respondents called for a more progressive taxation regime with changes specifically […]

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Irish mortgage rates third highest in euro zone

Mortgage rates in Ireland still remain elevated compared to the country’s euro zone neighbours, new Central Bank figures show. Ireland had the third highest mortgage interest rates across the euro area in September, the Central Bank said, with only Greece and Latvia higher.  The average interest rate on new mortgages agreed here stood at 2.78% […]

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EU-UK trade talks set to go past mid-November deadline

Talks between the UK and the European Union on a post-Brexit trade deal are likely to run into next week, missing a mid-November deadline, Minister for Foreign Affairs Simon Coveney has said. When asked when a deal was likely, he said: “I think it’s unlikely this week. Hopefully I’ll be proven wrong”. He made the comments in […]

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FDI warns of ‘serious’ disruption even if Brexit trade deal reached

The Irish food and drink industry has warned of serious economic disruption even if EU and UK negotiators reach agreement on a free trade deal in the coming days. Food Drink Ireland, part of IBEC, says the sector is the most exposed part of the most exposed country to Brexit, which is now just 50 […]

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