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Small firms need UK-style tax breaks to ‘fight back’, compete post-Brexit – Dublin Chamber

Small firms need UK-style tax breaks to ‘fight back’, compete post-Brexit – Dublin Chamber

BUDGET 2020 must help small, indigenous companies to compete with a “more attractive” UK, chambers of commerce leaders told an Oireachtas committee yesterday.

Dublin Chamber chief executive Mary Rose Burke, whose organisation represents more than 1,300 businesses, said capital gains tax rules punished risk-taking by startups. She told the Budgetary Oversight Committee that the current blanket …

Pound tumbles 1% as investors fear ‘never-ending limbo’ in UK politics

Pound tumbles 1% as investors fear ‘never-ending limbo’ in UK politics

The pound fell 1% today against the dollar, ceding gains made the previous day after the Supreme Court’s ruling against Prime Minister Boris Johnson.

Investors are pricing in many more months of Brexit and general election risk.

Boris Johnson was dealt a blow by the court, which ruled yesterday that he had unlawfully suspended parliament, sending the pound …

Dublin city councillors vote to cut property tax by 15%

Dublin city councillors vote to cut property tax by 15%

Dublin city councillors have again voted to reduce the annual local property tax by 15% – the maximum amount allowable.

The elected councillors refused to accept the advice of management who pointed out this will mean €12m less for public services at a time when the council is facing increasing costs.

The vote will mean that a homeowner in …

Sterling rallies, stocks slip on Supreme Court ruling

Sterling rallies, stocks slip on Supreme Court ruling

Sterling extended gains on Tuesday while euro zone stocks tumbled after Britain’s Supreme Court ruled that British prime minister Boris Johnson had acted unlawfully when he advised Queen Elizabeth to suspend Parliament this month.

The British currency gained as much as 0.4 per cent against the euro to 88.07 pence and up nearly 0.5 per cent versus the dollar to $1.2491. Stocks …

Euro zone business growth halts as Germany goes into reverse

Euro zone business growth halts as Germany goes into reverse

Euro zone business growth stalled this month, dragged down by shrinking activity in powerhouse Germany, where a manufacturing recession deepened unexpectedly.

Today’s downbeat survey results come less than two weeks after the European Central Bank pledged indefinite stimulus to revive the 19-country currency bloc’s ailing economy.

IHS Markit’s Euro Zone Composite Flash Purchasing Managers’ Index (PMI), seen as a …

Central Bank warns on Brexit and corporation tax ‘shock’

Central Bank warns on Brexit and corporation tax ‘shock’

The Central Bank has warned that a disorderly Brexit and a reduction in the amount of corporation tax collected by the Exchequer could deliver a negative shock to the public finances.

In an Economic Letter published today, the Central Bank has forecast that the national debt could rise by €22 billion over the next five years.

It warns that if …

Some jobs and businesses may not be saved in event of no-deal Brexit – Taoiseach

Some jobs and businesses may not be saved in event of no-deal Brexit – Taoiseach

The Taoiseach has warned that some jobs and some businesses may not be saved in the event of a no-deal Brexit at the end of next month.

Leo Varadkar also told the Dáil that there “hasn’t been an enormous take-up by businesses” of a number of schemes set up by the Government to help mitigate …

‘Palpable’ risk of no-deal Brexit remains – Juncker

‘Palpable’ risk of no-deal Brexit remains – Juncker

European Commission President Jean-Claude Juncker said there was a “palpable” risk of a no-deal Brexit and progress on replacing the backstop could not be made to reach a deal until the UK submitted written proposals.

Speaking at the European Parliament, he said “the risk of a no-deal remains real” but that would be the choice of the UK government.

“I said to …

UK car imports spend races 181% higher in summer months – Fexco

UK car imports spend races 181% higher in summer months – Fexco

New figures show that Irish motorists increased their spending on cars imported from the UK by 181% in July and August compared to the same two months in 2018.

The figures show that the country’s car import boom is picking up speed as the deadline to Brexit looms ever nearer, Fexco International Payments said.

The analysis of 1,500 …

House rebuild costs rise by 6%, SCSI survey shows

House rebuild costs rise by 6%, SCSI survey shows

National average re-build costs have increased by an average of 6% over the past year, the latest Guide to House Rebuilding Costs from the Society of Chartered Surveyors Ireland reveals.

The Guide to House Rebuilding Costs is used by homeowners to calculate the rebuilding costs of their home for insurance purposes.

The SCSI stressed that homeowners should understand the …

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