Forward Look
The Government has announced it will nominate current Finance Minister Paschal Donohoe TD for a second term as Eurozone President. If re-elected, he will continue to carry out this role as Minister for Public Expenditure and Reform.
A planned register of short-term leases and holiday homes as a part of the Government’s housing plans has been delayed by a further five months.
Irish inflation figures for October will be published tomorrow. Whilst it has dropped over the last two months in Ireland, prices continue to rise in other major Eurozone countries, signalling the ECB’s policy might diverge from Irish conditions.
Concerns are growing regarding Ireland’s tax revenue following a series of mass lay-offs at tech firms including Twitter and Facebook that have been responsible for high overall employment and wage increases in high salary jobs in the Irish economy.
An Irish delegation is attending COP27 in Egypt this week including Taoiseach Micheál Martin and Ministers Eamonn Ryan TD, Simon Coveney TD, Colm Brophy TD.
IBEC’s latest Quarterly Economic Outlook has projected the economy’s growth rate will fall to 2% in 2023 and warns of instability in the financial markets.
Annual Tax Revenue is set to hit a record high of €80bn, according to the Fiscal Monitoring Report by the Department of Finance.
Minister for Finance Paschal Donohoe TD announced his intention to dispose of approximately 8% of the Irish States shareholding in AIB Group plc.
Minister for Social Protection Heather Humphreys TD is likely to propose changes to the current welfare system before Christmas, including a move to link jobseekers benefit to previous earnings.
Today, the Committee on Enterprise, Trade and Employment will meet with representatives of Enterprise Ireland to discuss issues facing trade in Ireland and supports available to businesses.
Today, Committee on European Union Affairs will discuss the state of play regarding UK-EU relations and the implementation of the Northern Irish Protocol with relevant academics.
Today, the Dáil will debate the Finance Bill 2022 and the Credit Guarantee bill will reach its second stage.
On Thursday, Oral Questions for the Minister for Transport and Minister for Finance will take place.
Other Stories this week
Permanent TSB has completed its acquisition of €6.2 billion of Ulster Bank’s loans.
Ryanair posted its largest ever after-tax profit for the first half of its financial year this week. It recorded a profit of €1.37bn from March to September this year.
Governor of the Central Bank Gabriel Makhlouf has called for tighter regulation of “hidden leverage” in the fund sector to mitigate risks to the global system.
The Business Post has found the number of new homes being built in Ireland has fallen by 14% from last year.
Sinn Féin’s Ard Fheis took place on Saturday. The theme of the Ard Fheis was ‘Time for Change’.
Upcoming key political and business events
11 November, Small Firms Association Annual Lunch.
16 November, Ibec Financial Services Ireland Dinner.
16 November, LVA and VFI Irish Pub Awards.
7-8 December, Dublin Chamber London Trade Mission.
15 December, Leo Varadkar TD becomes Taoiseach.
Consultations
National Biodiversity Action Plan. Department of Housing and Local Government. Deadline 9 November.
Draft Forest Strategy. Deadline 29 November.
National Horticulture Strategy. Deadline 30 November.
Key issues relating to the disregard of Convictions for Certain Qualifying Offences related to Consensual Sexual Activity between Men. Deadline 9 December.