Archive for December 2022

Taoiseach Leo Varadkar has said Ireland can become energy independent within a generation or less and that this generation should be the one that turns the tide on climate change and biodiversity loss. Launching the Government’s updated national Climate Action Plan today, Mr Varadkar said we must prepare ourselves for the adverse effects of climate…

The European Central Bank may raise interest rates at its current pace for a “period of time” to curb inflation, Vice-President Luis de Guindos said today. “We have no choice but to act,” he said in an interview with Le Monde paper published on Thursday. “Increases of 50 basis points may become the new norm…

Hiring rates have declined from post-pandemic highs, according to IDA Ireland’s latest Labour Market Pulse. The study, which is published in partnership with Microsoft and LinkedIn, shows that hiring rates were 12.7% lower in October 2022 compared to October 2021. However, the 2022 figure is still above hiring rates in both October 2019 and 2020.…

An updated national Climate Action Plan outlining accelerated economy-wide measures to reduce greenhouse gas emissions will be unveiled by the three Government leaders later this afternoon. It is expected to include new measures to reduce the number of car journeys taken, reduce on-street parking and prioritise active travel and the use of public transport. The…

Finance Minister Michael McGrath said that so far over 7,000 businesses have registered for the Temporary Business Energy Support Scheme, which was announced in the Budget. The Temporary Business Energy Support Scheme (TBESS) aims to assist businesses with their energy costs during the winter months. Speaking on Morning Ireland, Mr McGrath said the first payments…

Consumer sentiment improved in December to its best level for four months as cheaper fuel and an improved economic outlook brought some seasonal cheer to hard-pressed households, a survey showed today. The Credit Union Consumer Sentiment index increased to 48.7 in December from 45.3 in November, the second improvement in the past three months. The…

New figures from the Central Statistics Office show that people who usually worked from home accounted for 22.5% of people in employment in the third quarter of 2022, up from 7.3% during the same time in 2019. The number of people usually working from home saw a sharp rise since pre-Covid pandemic levels, increasing from…

The possible future introduction of a universal basic income (UBI) would have both positive impacts and drawbacks, according to a new study from the Economic and Social Research Institute (ESRI). A UBI is defined as a universal, unconditional payment that is made regularly, is sufficient to live on, is not means tested and carries no…

New figures from the Commission for Regulation of Utilities (CRU) show that wholesale gas prices increased by 380% in 2021, while wholesale electricity prices jumped by 260% compared to the previous year. The knock-on effect on retail prices caused more customers to switch providers in an effort to reduce their bills. Today’s data from the…

New figures from Gas Networks Ireland shows that colder temperatures in November compared to October saw a 13% increase in gas demand last month. But as November was still a relatively mild month overall, gas demand decreased by 7% compared to the same month last year. Today’s figures show monthly increases in gas demand from…