David Murphy: Don’t expect a giveaway Budget

It is less than five weeks to the Budget and the annual routine of ministers arguing their cases for more money for their departments is well under way. Many of the ministers have legitimate cases. Despite the remarkable economic turnaround money is tight. EU rules prevent countries from excessive borrowing to pay for day-to-day spending. This week Minister for Finance Michael Noonan tried to manage expectations regarding the amount of money available. He stood by the Government’s previously stated position …

Should Ireland join the European Southern Observatory?

By Will Goodbody, Science & Technology Correspondent Over the last couple of days on RTÉ News platforms, we’ve been exploring the structure, facilities, work and discoveries of the European Southern Observatory (ESO) – Europe’s foremost intergovernmental astronomy organisation. We’ve also been teasing out the costs and benefits of joining ESO, which is what many astronomers who are part of the small but active and growing community here want. Having travelled to Chile to see first-hand what ESO’s observatories are like, I can …

The Governor writes…

You wouldn’t expect the Governor of the Central Bank to recommend the Government does something wacky in the Budget, and in his pre-budget letter to the Minister for Finance, the governor doesn’t disappoint. His key recommendations are, firstly a long-term need to reduce debt well below the 60% limit set by the Maastricht Treaty and, secondly any budget-day help for first time buyers should not make things worse. The Governor would like to see long-term budgetary targets that can “act …

Apple, Ireland and the Spanish connection

Ireland is waking up to a legal and moral quagmire over the Apple tax bill. The big question is this: will Ireland appeal the decision, and what are its chances of winning, whatever about the political fallout from turning down €13 billion from Apple? RTÉ’s Europe Editor Tony Connelly looks at the Apple ruling and the possible impact of a similar case involving Spanish bank Santander. The Government has already been sharpening the axe with some of the most stridently …

The Apple tax ruling and the implications for its Irish operations

By Will Goodbody, Science & Technology Correspondent The Apple tax ruling is an extraordinary multi-faceted and many layered story, with implications regionally, nationally, internationally. The announcement that the amount of unpaid taxes owed by the Cupertino based company was of the order of €13bn, likely induced sharp intakes of breath among foreign multinational executives here. But regardless of the rights and wrongs of the situation, what does it all mean for Apple’s operations in Ireland, for the tech industry here, and the …

Apple money will be resting in our account

There is one fundamental truth which cannot be escaped from the Apple controversy: the company paid virtually no tax on vast tranches of its sales. Non-payment of any tax in any country means public services are deprived of revenue which could be spent on schools, hospitals or social housing. The row about Apple also spills over into Irish politics, the relationship between the EU and US and raises questions about the independence of sovereigns to determine their own tax affairs. Apple …

Broken-down: Ireland’s motor insurance

There have now been two recent cases of motor insurance companies, both regulated abroad, going bust, writes RTÉ’s Business Editor David Murphy. It means potential customers can no longer rely on regulators to protect them. In that vacuum it is becoming clear that the onus is on consumers to find out more before buying the cheapest policy. In 2014 Setanta, which was regulated in Malta, collapsed leaving unpaid claims of €90m. Last month, Gibraltar-regulated Enterprise Insurance went bust. Setanta is currently …

The real story behind Ireland’s ‘Leprechaun’ economics fiasco

Over the past few days we have learned much about the true story behind Ireland’s so-called “Leprechaun” economic figures. Senior civil servants and ministers were blindsided by the astonishing 26% economic growth figures for 2015 from the Central Statistics Office (CSO) – issued on 12 July. Some of the mandarins found out after the media, who were given the information under embargo 30 minutes in advance of publication at a press briefing. When the statisticians dropped their bombshell last week, ministers …

Meaningless economic statistics may cause problems

Ireland’s economy grew by more than a quarter last year – according to official statistics. But should we believe them? The straight answer is that they have been so badly distorted by activities by multinationals they are rendered meaningless. Aircraft bought by leasing companies, multinationals moving assets to Ireland and corporate restructuring have resulted in a dramatic increase in the size of the economy. The figures show the economy grew by a remarkable 26% last year in terms of Gross Domestic …

Pokémon Go – what’s all the fuss?

By Will Goodbody, Science & Technology Correspondent If you haven’t already, you should expect to hear a good deal about Pokémon Go over the coming days and weeks. It hasn’t even officially arrived here in Ireland yet, but already it’s getting a phenomenal reaction in the places where it has been launched. That will undoubtedly lead to it also becoming a huge hit when it arrives on Irish shores too. So what is Pokémon Go? Made by the Japanese company …

1 2 3 30