Brown O’Connor Communications Weekly Look Ahead – Ireland Wednesday 21 December

Forward Look                                

  • On Saturday, Leo Varadkar TD once again became Taoiseach. Members of the Coalition voted along party lines with 87-62 votes.

  • Following a cabinet reshuffle, Micheál Martin has become Tánaiste and Foreign Affairs Minister. Simon Coveney has been appointed Enterprise Minister.

  • Taoiseach Leo Varadkar has said he intends to “make an early visit” to Northern Ireland to meet the political parties and meet with Prime Minister Rishi Sunak.

  • Former US Congressman Joe Kennedy III has been appointed the US Special Envoy to Northern Ireland for Economic Affairs.

  • The Organisation for Economic Co-operation and Development annual economic survey of Ireland has found that the current Irish fiscal situation is favourable but faces significant challenges to sustain growth and ensure fiscal responsibility in the long term.

  • A report from the Economic and Social Research Institute has warned that the recent shocks to the tech sector could wipe €34 billion off the value of the Irish economy.

  • The Government has published its updated Climate Action Plan. It includes proposals to curb car parking where public transport options exist and reduce the distance driven by motorists by a fifth. Measures are also being considered to improve the national infrastructure for electric vehicle charging.

  • The future of An Bord Pleanála is in a “critical state” with its operations in “crisis” and its staff demoralised, according to two independent experts commissioned to produce a report on the organisation. The backlog of planning cases now stands at 2,300, the number it usually gets through in a year.

  • Tusla Chief Executive Bernard Gloster will become Chief Executive of the HSE in the spring.

  • The Irish Times Business Awards will take place on 2 February at the Round Room at the Mansion House.

Other Stories this week

  • New Taoiseach Leo Varadkar has banned mobile phones from Cabinet meetings, citing security and spying concerns. Controversies over leaking of Cabinet meetings is also believed to be a factor.

  • The Comptroller and Auditor General has criticised the Department of Finance and the Central Bank over an unauthorised release of €750m in exchequer funds to the department.

  • The IDA Ireland Labour Market Pulse has shown that Ireland’s hiring rate has begun to decline from the highs hit in the wake of the Covid-19 pandemic. 

  • 54% of business leaders in Ireland believe the financial performance of their main organisation will improve next year, according to a survey by the IoD Ireland.

  • RTÉ has appointed Deirdre McCarthy as its Managing Director for News and Current Affairs, the first woman to hold the position.

  • Fine Gael Senator Jerry Buttimer has been elected Cathaoirleach of the Seanad, replacing Fianna Fáil’s Mark Daly.

Upcoming key political and business events

  • 18 January, Dáil returns Christmas recess.

  • 20 January, Chartered Accountants Ireland Annual Dinner, Convention Centre Dublin.

  • 25 January, BioPharma and Lifesciences Connected, Radisson Blu Hotel, Cork.

Consultations

Selina Horshi appointed new Londonderry Chamber President

Selina Horshi has been appointed the 80th President of the Londonderry Chamber of Commerce.

Selina is currently the Managing Director of the White Horse Hotel in Campsie in Derry and served this year as the Chamber’s Vice President. 

In her address at the AGM, Selina spoke of the need for a functioning Executive to help support businesses and households in the North West experiencing the consequences of spiralling energy prices and the cost-of-living crisis as well as her hopes and goals for 2023.

Selina will be supported in her role by Greg McCann, Executive Director of FinTrU North West, as Chamber Vice President.

Speaking to members at the AGM in The Playhouse, Chamber President Selina Horshi said:

“I am delighted to have been elected President of the Londonderry Chamber of Commerce. I would like to thank the Chamber’s membership for the great honour of entrusting me with this role at such a crucial time. I will work tirelessly to ensure our hard-working businesses receive the support they need to overcome the challenges they face during the cost-of-living crisis, the recession, and an absent Executive.

“Despite these difficulties, the characteristic resilience and determination of our region’s businesses has not wavered. However, the absence of a functioning Executive is having an undeniable effect on business, investor, and consumer confidence. It is beyond time that our parties and political leaders found a solution to the impasse at Stormont and got back to work to support our workers and businesses.

“Looking towards 2023, shining a light on the success of our region and the talent and ingenuity of the North West business community will be a core part of my presidency. Our vision at the Chamber is to be at the heart of a creative, innovative, competitive, and confident region. I want to celebrate and champion innovation in all its forms in 2023, something which will be more important than ever as we deal with the challenges before us.

“I will also take inspiration from Aidan’s determined leadership over the last year. His exceptional work for the Chamber benefitted our region greatly and he represented our region with excellence and passion.” 

Outgoing President Aidan O’Kane added:

“It has been the privilege of a lifetime to be President of the Chamber. During my tenure, I worked meticulously to ensure the voice of our region was heard at every level of government. As a Chamber, we have navigated an uncertain and sometimes bleak path this year, with the collapse of the Assembly and Executive, the rising cost of living and inflation, and a recession. However, I have been encouraged and heartened throughout 2022 by a membership of talented, unique, and skilled business leaders.

“Having worked closely with Selina over the past year, I am certain her strong leadership will continue the Chamber’s great work and ensure our region’s voice remains loud over the next 12 months. I wish her all the best for 2023 and would like to thank the Chamber team and board for their invaluable help throughout my time as president.”

NI hymnwriters Keith & Kristyn Getty to begin their Sing! World Tour at Belfast’s SSE Arena

The Gettys will bring their Sing! World Tour to Belfast on Saturday 17 June 2023.

World-renowned hymnwriters Keith and Kristyn Getty have announced they will kickstart their Sing! World Tour at Belfast’s SSE Arena before shows in Singapore and Sydney.

The GRAMMY-nominated hymnwriters, who hail from Northern Ireland originally, will perform some of their best-known hymns including ‘In Christ Alone’ and ‘Christ Our Hope in Life and Death’ in their home city on Saturday 17 June 2023.

The Belfast show will feature an array of guest artists and the Getty’s band of internationally renowned musicians, all accompanied by the New Irish Arts Orchestra and a mass choir.

The concert marks the couple’s first performance in Northern Ireland since their GRAMMY nomination for their album Confessio – Irish American Roots in the Best Roots Gospel Album Category.

The album was penned and recorded on the North Coast of Ireland during the Covid-19 pandemic and has been described by the couple as their “love letter to Northern Ireland”.

The tour will then take the hymn-writing duo to the Star Theatre in Singapore followed by the Sydney Opera House in Australia.

Tickets go on sale at 10am on Friday 16 December and can be purchased via Ticketmaster or directly from the SSE Arena website.

Northern Irish hymnwriters Keith & Kristyn Getty.

Speaking ahead of the Sing! World Tour, Keith Getty OBE, said:

“It is always a tremendous honour to play in front of any audience, but there is something incredibly special about performing in front of a home crowd, especially following our GRAMMY nomination for an album dedicated to our home.”

“Kristyn and I are both extremely fortunate to be able to travel the world and share our music and passion for hymn-writing with amazing audiences, but Northern Ireland has a special place in our heart. It is where Kristyn and I met and where we return to with our four children each year, and so we are thrilled to kick off the Sing! World Tour at the SSE arena in Belfast.”

“We hope the concert will be a memorable evening where people can come together to sing their faith. As 2023 shapes up to be a great year for Kristyn and I, our return to Belfast is central to our excitement.”

Doors open at new Primark store in Rushmere Shopping Centre, Craigavon with 140 jobs created

Primark’s Northern Ireland Area Manager Jacqui Byers, Head of Sales ROI & NI Damien O’Neill, Lord Mayor of Armagh City, Banbridge & Craigavon Borough Council Cllr Paul Greenfield, Primark Craigavon Store Manager Cherie McCord and Martin Walsh, Rushmere Centre Manager.

Christmas came early for shoppers in Northern Ireland as Primark opened the doors to its brand-new store in Rushmere Shopping Centre, Craigavon on Friday 16 December.

Hundreds of eager customers queued from early that morning to enter the new store at 10am, which is the retailer’s 9th location in Northern Ireland.

A brand-new location for Primark, the new store has created 140 jobs for the local area and represents a £6 million investment by the fashion retailer, becoming a new anchor tenant at Rushmere Shopping Centre.

Customers were greeted by a tunnel of Primark employees as they entered the 30,800 sq. ft. store, which offers customers the latest everyday trends across womenswear, menswear, kidswear, beauty, lifestyle, and homewares all on one floor. Just in time for the festive season, customers can also look forward to shopping partywear and winter essentials, all at affordable prices.

The new Primark Craigavon-Rushmere store is part of the retailer’s recent announcement to invest £140 million in its UK business over the next two years, by growing its store estate in addition to store upgrades and refurbishments planned for existing stores across the UK. 

The entrance to Primark Craigavon at Rushmere Shopping Centre.

Speaking at the Primark Craigavon-Rushmere opening, Lord Mayor of Armagh, Banbridge and Craigavon Borough, Councillor Paul Greenfield said:

“It is fantastic to be here today to mark the opening of this wonderful new Primark store in the popular Rushmere Shopping Centre. This has been a long-requested addition to the area, and it is clear from the excitement here this morning that the people of Craigavon and the surrounding areas have been looking forward to its opening. We welcome this investment by Primark and are pleased to see the creation of 140 new retail jobs which will no doubt be a boost to the local economy.”

Jacqui Byers, Area Manager for Primark Northern Ireland added:

“We are delighted to open the doors at our brand-new Primark Craigavon store today, just in time for Christmas! This is an exciting new location for us, and we are proud to have expanded our presence across Northern Ireland and to see the people of Craigavon and surrounding towns in shopping with us today. Following the amazing reopening of Bank Buildings last month, our teams have worked tirelessly to get this new store up and running in time for Christmas, and I would like to thank my colleagues who have been working so hard to make sure we deliver the best in-store experience to our customers. So, whether it’s festive fashion, winter homewares or everyday essentials, there is something for everyone at Primark Craigavon!”

Martin Walsh, Rushmere Centre Manager concluded:

“We are thrilled to see the doors open at the fantastic new Primark store in Rushmere. This has been long requested by our customers and is a real boost ahead of Christmas. We are very confident that it will be a great success and have no doubt the new Primark employees will receive a warm welcome at Rushmere.”

 The opening of Primark Craigavon-Rushmere follows just six weeks after the newly refurbished, five-storey flagship store at The Bank Buildings, Belfast reopened to the public on 1st November. This represented an investment of £100 million to renovate and restore this iconic building in the centre of Belfast city and bring it back to its full glory, while also creating 300 new jobs, as part of Primark’s ongoing commitment to retail in Northern Ireland. Since its grand reopening, customers have returned to visit the new flagship store in record numbers with queues forming at weekends outside the store by customers wanting to come in and see Primark’s unique in-store experience and fashion offering.

Primark Craigavon-Rushmere will stock popular licensed ranges including NBA, Disney and NFL as well as popular fashion trends and winter essentials. It will also offer a wide range of clothes and products under its growing Primark Cares label, as part of the retailer’s pledge to make more sustainable fashion affordable for everyone. Already, 45% of Primark’s clothes are made using recycled or more sustainably sourced materials, up from 25% when the retailer launched its sustainability strategy in September 2021.

Taoiseach rotation and Irish Government reshuffle

This Saturday, Fine Gael leader and current Tánaiste Leo Varadkar will once again become Taoiseach, taking the reins from Fianna Fáil leader Micheál Martin who has been in post since June 2020. The arrangement, brought about by the Fianna Fáil-Fine Gael-Green coalition, sees the role of Taoiseach rotate between the coalition’s two largest partners half way through its term.

Can we expect much change?

While it is clear that Varadkar will become Taoiseach and Martin will take the Tánaiste role, the future of other key cabinet positions remains up in the air. Talks on the reshuffle have now begun between the leaders. Aside from the confirmation that current Finance Minister Paschal Donohoe and Public Expenditure Minister Michael McGrath will swap roles, given their strong working relationship over the past two and a half years, no other roles are yet confirmed.

 

Following a special Dáil sitting on Saturday to rubber stamp Varadkar, the reshuffle will begin. Alongside the Tánaiste role, it is believed that Martin has his eyes on the Foreign Affairs portfolio, which would shunt Simon Coveney out of the job. In a recent interview with the Irish Independent, Varadkar declared that Coveney would “absolutely” retain a cabinet role.  This will potentially lead to Coveney taking up his leader’s former post as Enterprise Minister, leaving him to begin implementing the new Enterprise White Paper launched this month as well as navigating challenges like foreign direct investment dependency and tech job losses.

 

However, as Irish Independent Ireland editor Fionnán Sheahan writes, “a shortage of major change is on the cards – stability is the order of the day.” Health Minister Stephen Donnelly is now expected to stay in his position, given a recent stronger performance in the role. Leaders will also be conscious of upsetting a delicate gender balance, with only four female senior ministers in the Government. The smallest party within the coalition, the Greens, are also expected to be immune to the reshuffle and all their ministers will likely keep their current portfolios.

 

What’s been achieved and what’s to come?

Micheál Martin has navigated Covid, Brexit, war in Europe, the worst cost-of-living crisis in a generation, and a housing crisis that just won’t go away for successive governments. Under his leadership, however, the Government has moved to amend electoral law and establish a new Electoral Commission; introduced gender pay gap monitoring and reporting; banned ticket touting; introduced a bill to regulate gambling; and committed half a billion euros to cross-border, all island projects through his Shared Island Initiative.

 

With Varadkar back at the helm, it is likely there will not be any major change in the Government’s agenda. Focus will remain on areas like health, housing, and the cost-of-living crisis. As we move into 2023, calls for a general election from Sinn Féin in particular will continue to grow. Varadkar’s biggest priorities in the early months of next year, however, will be stamping his authority on the Government, maintaining a grip on his party and backbenchers, and quelling the threat of the opposition.

Brown O’Connor Communications Weekly Look Ahead – Ireland Wednesday 14 December

  • This Saturday, Leo Varadkar will become Taoiseach. Talks to finalise the Cabinet reshuffle are not expected to conclude until Friday night or Saturday morning.

  • Taoiseach Micheál Martin is facing calls from Fianna Fáil backbenchers to create a post of deputy leader in the party if he plans to take on to the role of Minister for Foreign Affairs in the Cabinet reshuffle.

  • The Government have agreed on plans to overhaul the planning system with new laws set to go before the Dáil in early 2023.  

  • The Taoiseach has also called for stricter regulations on social media regarding privacy.

  • The Cabinet has approved measures which would see a 30% tax imposed on developers who make substantial profits due to land being rezoned.

  • The Government has approved four members of the first independent Electoral Commission. Included in the appointments is the former Fianna Fáil minister John Curran and SDLP MLA Alex Attwood.

  • Minister for Public Expenditure and Reform Michael McGrath will seek Cabinet approval to publish a review of ethics legislation and start the process of drafting new laws on ethics in public office.

  • New research from the Economic & Social Research Institute has suggested that aligned renewable energy targets for both the Republic of Ireland and Northern Ireland would support lower energy costs across the island.

  • US President Joe Biden is expected to appoint a special envoy for Northern Ireland in the coming weeks.

  • €650m in funding is being provided for the recently launched Temporary Energy Support Scheme.

  • Minister for Social Protection Heather Humphreys has sought approval to publish the first progress report of the Governments employment strategy Pathways to Work.  

  • The Government is to rebrand its overseas development programme from Irish Aid to the Government for Ireland Development Programme Overseas.

  • The EPA aims to speed up decision-making on data centres requests for fossil fuel licences.

  • The Dáil will enter Christmas recess on 17 December and recommence on 18 January.

 

Other Stories this week

  • SIPO is facing calls for further clarification regarding the ruling on the planned inquiry into Leo Varadkar as it is revealed there was dissenting opinion on the ruling.

  • The Government is to rebrand its overseas development programme from Irish Aid to the Government for Ireland Development Programme Overseas.

  • Over 500 corporate insolvencies have been recorded in Ireland in the year to date. This is a rise of 29% from last year. 

  • 32,426 new jobs were created by multinational companies with operations in Ireland over the past year, the highest level of annual growth ever. This is an increase of 9% up from last year.

  • Business confidence among Irish SMEs slipped again in the third quarter of the year.

  • An Post CEO David McRedmond has criticised Royal Mail for not supporting small Irish businesses post-Brexit. He blames the UK Post Office for the 52% decline in postal trade between Ireland and Britain since the implementation of post-Brexit trading arrangements.  

  • The Government has won a Dáil motion of confidence in the Minister for Housing Darragh O’Brien.

 

Upcoming key political and business events

  • 7-8 December, Dublin Chamber London Trade Mission.

  • 17 December, Leo Varadkar TD becomes Taoiseach.

  • 17 December, Dáil will enter Christmas recess.

  • 18 January, Dáil returns Christmas recess.

  • 20 January, Chartered Accountants Ireland Annual Dinner, Convention Centre Dublin.

  • 25 January, BioPharma and Lifesciences Connected, Radisson Blu Hotel, Cork.

 

Consultations

Financial regulation specialist Alison Donnelly named ‘Fintech/Payments Leader of the Year’ by European Women in Payments Network

Alison Donnelly, Director at fscom (left) pictured with Regina Lau of the European Women in Payments Network.

The European Women in Payments Network (EWPN), an organisation which unites women working in finance, cards, fintech and payments across Europe, has named financial regulation specialist Alison Donnelly as ‘Fintech/Payments Leader of the Year’.

A Director at governance, risk and compliance consulting firm fscom, which is based in Belfast with offices in Dublin and London, Alison was awarded the title at the annual EWPN Conference & Awards ceremony in Amsterdam.

The award recognises one woman in the European fintech community who has led the way in financial services and helped shape fintech across Europe while also promoting diversity and inclusion within the sector.

With a career background in financial regulatory policy, Alison is a former Financial Conduct Authority e-money specialist and works across fscom’s client base in Belfast, London, and Dublin to ensure fintech and payments companies are meeting their growing regulatory obligations.

Within fscom, Alison established the payments division of ex-regulators, ex-bankers, and in-house compliance experts, drawing on her governance, risk, and compliance consultancy expertise.

The EWPN awards are designed to celebrate individuals and organisations in financial services who dedicate time to advancing and impacting the industry positively.

As a Director at fscom, Alison has supported the development of a diverse and inclusive workforce in line with company growth, while working to achieve Diversity Mark accreditation for the company every year since 2020.

Alongside her role, she works to raise the standards of financial compliance professionals through her work as a Fintech Corridor Ambassador, as Payments Association (PA) Project Regulator lead, and with the Association of Compliance Consultants, the Compliance Institute and the Fintech and Payments Association of Ireland.

Alison is a previous winner of The Payments Association 2021 ‘Industry Contributor of the Year’ Award and was also featured on the Innovate Finance Women in Fintech Powerlist 2021.

fscom Director & EWPN’s Fintech/Payments Leader of the Year 2022 Alison Donnelly said:

“It is an incredible honour to be named Fintech/Payments Leader of the Year by the European Women Payments Network. The EWPN is a forward-thinking organisation doing important work right across Europe to not only build a community of women in the industry but empower us to take the fintech and payments space forward in a wholly inclusive way.”

“Collaborating with peers across the sector is the best way to achieve real change, and I am thrilled to be connected with the EWPN community in this way. It is a privilege to be recognised after another busy year at fscom and I thank the whole team for their encouragement and support.”

fscom Managing Director Jamie Cooke added:

“It is fantastic to see Alison’s contribution to the fintech and payments industry recognised at such a prestigious level by the European Women in Payments Network. Alison is a well-known, respected policy expert whose work has driven change right across the regulatory landscape for payments companies. She is a strong voice and advocate for diversity and inclusion within the company and we at fscom are not surprised to see her named Fintech/Payments Leader of the Year and are delighted to celebrate with her.”

Donal Laverty, Consulting Partner at Baker Tilly Mooney Moore: Not your typical recession as talent squeeze set to continue

As first published in the Irish News, 13 December 2022

There is no escaping the recession we are slipping into. The UK economy will shrink by 1.4% in 2023 and unemployment will jump to 4.9%. Yet simultaneously, businesses are aggressively recruiting to fill vacancies and almost three quarters still plan to take on more staff.

It may seem paradoxical, but this won’t be a recession characterised by high unemployment. In fact, it will be the opposite.

Some 63% of businesses say they are struggling to grow due to high staff turnover. We will remain in the grips of a hiring boom for this reason, alongside growth stimulated by pandemic recovery; a tendency among employees to change jobs more frequently; a reduction in available workers following Brexit; and a battle for real-terms wage increases to make a dent in the heightened cost of living.

What we will see next year will be an entirely different recruitment market to what’s typical of recession. No drop in demand is coming anytime soon, and businesses, public and third sector organisations must prepare accordingly. 

That’s not to say some sectors won’t feel the pain of layoffs. The 2008 financial crash saw sharp declines in numbers employed in construction, some manufacturing sectors, the gambling industry, and hospitality. Recession hits different industries differently, so the impact will be sector specific.

Some individuals, particularly the over 50s, are returning to the workforce. In part down to the squeeze on household budgets, this will plug gaps and address short term skills shortages. But it does little to mitigate the long-term issue.

Employment levels are close to their peak in Northern Ireland, meaning there aren’t many more people to be enticed back. Employers are chasing the same talent pools, so the surplus of vacancies will remain high and number of candidates comparatively low.

Typically, a recession will reduce the number of vacancies due to less money in the economy. We will see a lag in job creation; however the current surplus means job opportunities will be plentiful, even when the economy enters the negative.

Despite high inflation, high interest rates and current economic volatility, employers will still need to up their game and deliver value if they want to attract in and retain their existing staff.

This is where HR policies that might previously have been considered perks have serious value. Flexibility to offer remote-capable jobs; attractive pay and benefits to cover the cost of living; help with travel and childcare; a healthy company culture and a focus on diversity and inclusion all feed into that all-important Employer Value Proposition.

We are in a time of impatience, as people seek to climb the ladder quickly. The enormous labour market churn will not therefore simply be cancelled out by recession.

It’s a scary prospect, but those who thrive in 2023 will be the ones who keep their eye on the long-term trends and implement change, particularly regarding their approach to training and upskilling.

The alternative, as seen in previous recessions, is hanging onto workers that no longer fit the business rather than letting them go because talent is scarce. It’s a concept known as labour hoarding and has plagued employers for several years.

Sourcing in different talent pools and reducing time-to-hire will become even more relevant throughout the next year to avoid this labour hoarding and stay competitive. A strong Employer Value Proposition will no longer be attractive, but a necessary offer to maintain staffing levels as the UK slips into recession.

New documentary Yer Men in Spain lifts the lid on Northern Ireland’s 1982 World Cup experience

Footage of the Northern Ireland football squad sending shockwaves through the 1982 World Cup will be on show in a new documentary created by Northern Ireland Screen’s Digital Film Archive. To coincide with the 40th anniversary of Northern Ireland reaching the World Cup, Yer Men in Spain will screen on Sunday 11th December at 7.30pm in the Odeon, Belfast.  

The film is edited from over eight hours of footage of the late Billy Bingham’s squad featuring Gerry Armstrong, Pat Jennings, Martin O’Neill, Billy Hamilton and Norman Whiteside on and off the pitch. It features interviews and vox pops from fans in Spain and in pubs and venues across Northern Ireland captured by UTV. This includes footage never seen before.  

Camera operators from UTV were granted access to all areas of the 1982 squad’s movements in Spain for the World Cup where Northern Ireland beat home country Spain and reached the quarter finals. They were also welcomed into the family home of Gerry Armstrong and caught fan reaction at home and abroad as the team defied expectations.  

The team at Northern Ireland Screen’s Digital Film Archive reviewed 21 cans of footage before assembling this fly-on-the-wall style feature-length documentary.  

Screened in partnership with Belfast Film Festival, the documentary screening will be followed by a Q&A with footballers Gerry Armstrong and Billy Hamilton.

Richard Williams, Chief Executive Officer of Northern Ireland Screen commented:

“The purpose of the Digital Film Archive is to safeguard moving image heritage in a way that is stimulating, entertaining and sustainable and the Yer Men in Spain documentary does just that. By unearthing and piecing together never before seen footage of the Northern Ireland World Cup squad in 1982, the Digital Film Archive team has created a way for local football fans to immerse themselves in such a historic celebration forty years later.”  

Former Northern Ireland international footballer Gerry Armstrong added:

“This feature-length documentary will showcase the greatest football moment in the history of the Irish FA and it really is a must watch for the fans. I’m really looking forward to watching the behind-the-scenes footage I’ve never seen before with all the fans next Sunday.” 

Brown O’Connor Communications Weekly Look Ahead – Ireland Wednesday 30 November

Forward Look                                

  • Preliminary talks on Cabinet reshuffle are to begin later this week. It’s understood the focus of initial talks will be on the decision of which Department will work best in the long term to house those fleeing from Ukraine.

  • Sinn Féin is down four points in the polls in the most recent Red C survey. It is the party’s first decrease in over a year.

  • Siún Ní Raghallaigh is the new chair of RTÉ. Ní Raghallaigh is the former chief executive of Ardmore Studios and a founding member of TG4.

  • A new consolidated Planning Bill will be brought before cabinet early next month. It will radically overhaul the planning process by speeding up An Bord Pleanála process and reduce the number of judicial review challenges.

  • Minister for Finance Paschal Donohoe TD is set to serve a second term as Eurogroup President due to no other candidates coming forward. Current Minister for Public Expenditure and Reform Michael McGrath TD will serve as Ireland’s representative to the group.

  • New research from Fintech group Wise business revealed that 7 out of 10 SMEs in Ireland fear closure over the next year. 76% of businesses polled believe the baking sector requires greater competition to meet their needs.

  • 660 Irish based businesses will have to report to the Department for Equality after findings showed men at Irish based companies are earning significantly more than their female colleagues.

  • European Commission President Ursula Von der Leyen will address both houses of the Oireachtas tomorrow.

  • A planned increase in motorway tolls will be delayed until July 1, 2023. The decision was made by the three Coalition leaders on Monday night.

  • Taoiseach Micheál Martin TD has said he would be in favour of a universal levy to replace the TV licence.

  • On Thursday, IBEC’s Business Leaders Conference and the Irish Business and Finance Awards will take place in Galway and Dublin, respectively.

Other Stories this week

  • The Government has regained a majority in the Dáil after Neasa Hourigan TD and Patrick Costello TD were readmitted into the Green Party last week after losing the whip for six months.

  • The Central Bank has put a 60% borrowing limit on Irish property funds.

  • The Economic and Social Research Institute think tank has reported that Ireland’s productivity levels have grown to 40% above Northern Ireland’s in the last twenty years.

  • Yesterday, Taoiseach Micheál Martin TD brought an update on the Shared Island Initiative to Cabinet. He outlined the €132m spent to date on cross border initiatives such as the Narrow Water Bridge and Ulster Canal projects and further upcoming plans.

  • Minister for Finance Paschal Donohoe TD has lifted the €500k pay cap on pay at the Bank of Ireland and allow bonuses of €20k in the banking sector overall.

  • Ireland and France have signed the €1.6bn Celtic Interconnector agreement. This will join both countries’ energy grids and will supply energy from whichever country’s is cheapest at the time.

Upcoming key political and business events

  • 1 December, Ibec’s Business Leader’s Conference, Galmont Hotel, Galway.

  • 1 December, Business Post Property Summit, Croke Park, Dublin.

  • 1 December, National Food and Drink Business Conference, Blanchardstown Sports Arena.

  • 7-8 December, Dublin Chamber London Trade Mission.

  • 17 December, Leo Varadkar TD becomes Taoiseach.

Consultations