The Irish Fiscal Advisory Council’s latest report has reiterated their stance that government spending plans risk overheating an economy already at full capacity. Is their plea for caution correct given the corporation tax receipt bonanza that shows little sign of abating in the short-term? Niall Conroy is chief economist with IFAC and he joined host Cliff Taylor on this episode of Inside Business to air the council’s concerns. Plus, there is likely to be a rise in workplace audits after...

According to Conor Pope, Irish holidaymakers have been playing a game of chicken with airlines in recent weeks and – for once – it seems that the holiday makers are winning.   With June on the horizon airlines have seats to sell with plenty of capacity at many accommodation options for the peak months. Ryanair chief executive Michael O’Leary recently said air fares had not increased at the anticipated pace, with peak prices more likely to rise by “zero to 5 per cent” rather than the “5 to 10...

Last weekend, Tony O’Reilly, one of Ireland’s leading businessmen, died at the age of 88 after a short illness. He had a hugely successful career both on the rugby pitch, as a star with Ireland and the Lions, and in the boardroom where he founded the Kerrygold butter brand, ran the Heinz food group in Pittsburgh for decades, and had a portfolio of personal interests ranging from Independent Newspapers to oil explorer Providence Resources. He was also the co-founder of the Ireland Funds...

Some 18,000 housing commencements were recorded in April. It’s a huge number and well up on the normal run rate. What was behind that spike?   And do we have enough construction workers to build these homes and get to the magic 50,000 new homes a year target that we’re told we need to hit in order to meet demand?   On this week’s episode of Inside Business, host Ciarán Hancock is joined on the line by director general of the Construction Industry Federation Hubert Fitzpatrick to discuss these...

This episode of the Inside Business podcast looks at Ireland's commercial and residential property markets. In part one John McCartney, Director of Research at BNP Paribas Real Estate Ireland, discusses a significant surge in Dublin's office vacancies and the factors affecting office space demand, including the global economic downturn, a tech sector slowdown, and shifts in workspace needs post-COVID. In part two economics columnist Cliff Taylor looks at Sinn Féin's criticism of first-time...

This week we take a deep dive into the issues impacting tech giant Apple. In the year to date, the iPhone maker's share price has fallen by more than 8 per cent, and about €300 billion has been wiped off its market value. Apple has ceded to Microsoft its status as the most valuable US company. This drop was spurred by declining sales in China, regulatory scrutiny of its app store, and mounting concerns that the company has lost its edge on innovation, especially in the field of AI.  But is...

On this week’s Inside Business with Ciarán Hancock we look at Aviva’s plan to re-enter the Irish health insurance market and what that might mean for consumers.   Will this deliver lower prices for hard pressed Irish consumers? Will it bring additional benefits in coverage? And is worth the hassle to switch for customers of VHI, Laya and Irish Life Health? To get some answers to these questions and more, Ciarán is joined on the podcast by Dermot Goode of Totalcover.ie, a Locktons Company, and...

On this week’s episode of Inside Business, host Ciarán Hancock is joined in studio by aviation entrepreneur Ulick McEvaddy. With his brother Des, Ulick has established a successful aviation business over the past 40 years called Omega.   He and Des also own a large parcel of land beside Dublin Airport. Along with two other landowners, it amounts to 260 acres and was put on the market for sale in the middle of last year.   With no sale agreed, they subsequently submitted a concept plan to...

On this week’s episode of the Inside Business podcast, we look at the pension pots that auto enrolment could deliver for workers on an average wage.   The State is planning to establish the scheme for workers who do not already have pension cover in their workplace. It has been much delayed but is moving forward and EY this week crunched the numbers to see what workers might get by way of a pension when they retire.   Dominic Coyle of the Irish Times reported on EY’s figures and joined host...

Figures from the Society of the Irish Motor Industry this week showed that electric car sales are in reverse, falling by 14 per cent year on year in March. This compared with double digit increases in the sales of petrol and hybrid car. Even diesel sales rose by 9 per cent.   Meanwhile a survey by AA Ireland found that half of the 1000 respondents would not opt to buy an electric car.   Why the hesitance to go electric? And what can be done to incentivise people to buy EVs?   Irish Times...

In this episode of Inside Business host Ciarán Hancock is joined in studio by Chief executive and founder of Cubic Telecom, Barry Napier. In a wide-ranging interview, Barry discusses his formative years in Ireland and Chicago, his early career before joining Cubic more than 15 years ago and the key entrepreneurial lessons he has learned along the way. He also gives his thoughts on why Japanese telecoms giant SoftBank shelled out €473 million for a 51 per cent controlling stake in Cubic last...

It feels like recent history repeating itself with TikTok again facing a ban in the US on national security grounds. A Bill passed through the House of Representatives last week requiring a change in ownership for the social media platform or it would face a total ban in the United States. What if the ban becomes a reality? Host Laura Slattery is joined by Irish Times technology expert Ciara O’Brien to discuss the potential consequences for the hugely popular app that currently has 170...

With the use of cash declining in recent years, a trend accelerated by the pandemic, the Access to Cash Bill is designed to manage future cash demand here, initially preserving the cash infrastructure at December 2022 levels. To discuss the Access to Cash Bill and its potential impact on the three retail banks (AIB, Bank of Ireland and PTSB), Ciarán Hancock is joined by CEO of the Banking and Payments Federation of Ireland, Brian Hayes. Also on this episode, Irish Times Economics...

With unemployment low, strong exchequer returns and an economy at full capacity, there isn’t much to suggest that Ireland has tipped into a recession. But the latest Central Statistics Office (CSO) figures show the economy contracting by 3.2 per cent in GDP (gross domestic product) terms in 2023. Should that be cause for alarm? Host Ciarán Hancock is joined by Cliff Taylor and Eoin Burke-Kennedy for a thorough look at where Ireland’s economy is right now. Later in this episode of Inside...

Bank of Ireland were in the strange position on Monday of reporting pre-tax profits of €1.94bn for 2023, up from €1bn in 2022, but seeing their share price plunge by over 10pc. There was also the announcement of a €1.15bn of dividends and share buybacks. To make sense of Bank of Ireland’s latest results, along with some insight into what this year is likely to have in store for the three main banks here, host Ciarán Hancock was joined by Irish Times Markets Correspondent Joe Brennan and...

It was not good news for Europe’s largest economy on Monday when the Bundesbank announced during its regular monthly report that Germany was officially in recession. A range of factors, including weak external demand and cautious consumers, have contributed to the fourth straight quarter of zero or negative growth. But what does a German recession mean for the euro zone and Ireland? And are there any indications of when Germany’s economy will likely turn a corner? Host Ciarán Hancock is...

The high price of electric cars has long been seen as a barrier for those looking to switch from the traditional combustion-engine car to an EV, but that is now changing with many car makers slashing their prices. But what is driving prices down and what impact will it have on the second-hand EV market here? Irish Times writer specialising in motoring Neil Briscoe explains. And what of the broader picture for EV usage here, how do we compare to other countries and is charging infrastructure...

Next week the battle between listed property landlord IRES REIT and its 5% dissident shareholder Vision Capital will come to a head at an extraordinary general meeting of shareholders in Dublin. IRES is the biggest private landlord in the state with more than 3,700 apartments. On the face of it IRES is performing well, however the share price has struggled and a government-imposed 2% annual cap on rents is a potential drag on the business. Vision Capital owns 5% of IRES and is not happy...

With ATMs now an endangered species, the Access to Cash Bill, recently announced by Minister for Finance Michael McGrath, would oblige banks to maintain access to cash dispensers at December 2022 levels. But should cash play an important role in our economy into the future? Ciaran Hancock is joined this week by Vincent Jennings, Chief Executive Officer of the Convenience Stores and Newsagents Association who feels that cash has an important role to play and would welcome oversight of the...

Employers group Ibec’s chef executive Danny McCoy sent an open letter to Taoiseach Leo Varadkar on Monday calling for a pause on labour policy measures to avoid ‘uncoordinated and cumulative’ costs to businesses. Those measures include upping the national minimum wage and increases in employer Pay Related Social Insurance (PRSI). In response, Owen Reidy, general secretary of the Irish Congress of Trade Unions, labelled Mr McCoy’s proposals as “short termist”. They joined host Ciarán Hancock...

New research commissioned by Aer Lingus points to the current restrictions on passenger capacity at Dublin Airport potentially costing the Irish economy €1.4 billion for every 1 million passengers not allowed to arrive into the airport. Chief Corporate Affairs Officer at Aer Lingus, Donal Moriarty, joined host Ciaran Hancock in studio to discuss the findings of the report and the likely implications for the airline in terms of its own growth at Dublin Airport this year and next. And we are...

Housing is undoubtedly the biggest domestic issue on the political agenda right now, with a focus recently on the long commutes being faced by workers in certain key roles in Dublin. So, it is perhaps timely that a new report has been launched with a potential solution to this thorny issue. Authored by veteran businessman Paschal Taggart and young law graduate Luke Cantwell, the report has suggested that the State should shave 10 per cent of land off Dublin’s major parks that could free up...

What awaits those looking to buy or sell property this year? Will the beginnings of an uplift in supply last year gain momentum in 2024? And will price inflation in rural areas continue to outstrip Dublin? Managing Director of Residential & Advisory at Sherry Fitzgerald, Marian Finnegan, gives her expert view. According to figures compiled by the Restaurant Association of Ireland, 228 food-led hospitality business have closed since July 2023. Why are so many cafes and restaurants...

An Post CEO David McRedmond joins Ciarán Hancock to discuss a stellar year for the company with a move to a new HQ, a €30 million government loan repaid and some six million packages delivered this December. He also gives his predictions on how Ireland’s economy will perform in 2024, the impact of new EU directives on sustainability and whether hybrid working will continue. Ciarán is also joined on the line by Irish Times China Correspondent Denis Staunton to discuss what was a disappointing...

With the dust settling on 2023, Inside Business host Ciarán Hancock is joined by an esteemed panel to pore over the big stories from the world of media and tech and the economy. Cliff Taylor explains the notable slowdown in domestic growth here, despite the rosy picture that strong corporate receipt returns continues to paint. A lower level of discretionary spending is putting real pressure on smaller businesses, especially those in the hospitality sector – could a glut of closures follow in...