The state will have to pump another €20 billion into the banks, government stress tests will reveal this week, according to the main story in The Sunday Business Post. During the election, the coalition partners believed the figure was only half of this amount and €10m had been set aside as a result.
The government is to unveil its so-called ‘Jobs Budget’ in May, shortly before the arrival of Queen Elizabeth and President Obama, The Sunday Independent reports.
Almost 10% of the 6m loans registered with the Irish Credit Bureau (ICB) are now at least a month in arrears – up from fewer than 1% in 2007, according to The Sunday Times.
Concerns are growing that more money will be needed to bail out Ireland’s beleaguered banking sector, particularly AIB, when the results of stress tests are announced formally at the end of the month, The Sunday Business Post reports.
Thousands of people who owe money on their energy bills are effectively leaving their debts behind when switching to other operators, according to The Sunday Business Post, which says this is a growing trend the energy regulator is considering plans to prevent.
For long periods he has managed to fly below media radar, trained on his former financial colleagues Sean Fitzpatrick and David Drumm. But it appears the guns are now being firmly pointed once again on Michael Fingleton.
Irish incomes have now fallen to an estimated 8% below the EU average, wiping out any gains over the past decade or more, according to The Sunday Business Post, quoting a new report.
Enda Kenny has already raised the prospect of selling state assets with the chief executive of Bord Gáis, John Mullins as a revenue-raising option under the new government, The Sunday Business Post reports.
The decision to pull the plug on the Sunday Tribune after decades of losses, may have more significance than most for Ireland’s political classes than many other closures (or threatened closures in this case as a stay of execution is still pending).
Tax and property experts believe the current proposals to scrap tax relief on Section 23 properties will never see the light of day in its present form, The Sunday Business Post reports.
The Revenue Commissioners carried out more than 11,000 audits last year and almost 500,000 assurance checks. The chances of coming under the scrutiny of the taxman are unlikely to lessen in 2011 but significant changes should benefit businesses and the self-employed who have to undergo the rigours of an audit.
The private equity group bidding for EBS will try to buy Permanent TSB and other banking businesses if it manages to secure the building society, The Sunday Business Post reports.
Aviva is understood to have gained around 12,000 customers over the past ten days since the VHI announced its massive price hikes of between 15% and 45%, according to The Sunday Business Post.