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RTÉ News
2 hours ago
- RTÉ News
Hopes of significant UK funding allocation for Casement Park
The UK's Chanceller of the Exchequer Rachel Reeves is to set out her spending review in the House of Commons later today. Many are hoping that a significant allocation towards the construction of Casement Park in west Belfast will be included. The stadium, the home of Antrim GAA, has been derelict for over a decade. It is estimated that the project will cost £260 million (€296.9 million), less than half of which is already in place. The Irish Government has pledged around £43 million (€51 million), the Stormont Executive £62.5 million (€74.2 million) and the GAA £15 million (€17.8 million). A shortfall of £140 million remains. It was hoped that the stadium could have been redeveloped for Euro 2028 but this did not come to pass. British Prime Minister Keir Starmer said afterwards that he wanted an "alternative proposition". Many, including in the GAA, are quietly hopeful that a significant sum will be provided later today. However, the Chancellor of the Exchequer Rachel Reeves is facing huge spending demands from across Whitehall. Secretary of State for Northern Ireland, Hilary Benn, has been among cabinet members pushing for increased funding for his department, including money for Casement Park. However, Mr Benn has previously stated too that the UK government cannot plug the full £140 million gap. The Stormont Executive committed to redeveloping Casement Park in 2011 as part of a strategy to revamp football's Windsor Park and the rugby ground at Ravenhill. While the two other Belfast-based projects went ahead, the redevelopment of Casement was delayed. Intense lobbying efforts have been underway in recent times, with Ulster GAA visiting Westminster last week, to press politicians on the need to include a significant allocation in today's spending review. Last week Northern Ireland's First Minister Michelle O'Neill also called on the British government to provide substantial funding to help rebuild Casement Park. Taoiseach Micheál Martin stated last September that he would not rule out further money being provided by the Irish Government. The 34,500 capacity stadium has planning permission until July 2026 so it is hoped construction can start before then. This afternoon's Spending Review will be a pivotal moment for the UK government, as it maps out its day-to-day spending and investment plans for much of the remainder of the parliament. Defence, health and infrastructure are likely to be prioritised, in what is otherwise a constrained spending package.
Irish Examiner
2 hours ago
- Irish Examiner
Bank of Ireland reports 'resilient' spending with card activity up 6.5% in May
Irish consumers continued to display confidence in May, with Bank of Ireland card spending rising by 6.5% annually. The rise in credit and debit card activity marked another month of strong growth in consumer activity, the lender said, with the "robust" growth significantly outpacing inflation, suggesting household spending remains a key driver of economic momentum. Despite ongoing global uncertainty and trade tensions, Irish consumers have not pulled back on their spending, Bank of Ireland said, with the data showing no evidence of a slowdown in expenditure, even in categories typically sensitive to economic sentiment. Retail spending in May rose by 3.6%, which Bank of Ireland said reflected steady demand for clothing, groceries and household items. Meanwhile, spending on services rise by 3.7% in the month, underpinned by continued demand for personal care, transport and professional services. Social spending was also up in the month, rising by 6.4%, with notable increases in restaurant and accommodation expenditure. Restaurant spending alone climbed 6.3%, the bank added, well above the 3.4% inflation rate for this category. Likewise, accommodation spending also rose by 5.6%, with prices in this segment remaining broadly stable. Importantly, Bank of Ireland said there was no sign of a decline in spending on 'big-ticket' items such as furniture, electrical goods, airline fares, or holidays, areas that often see early cuts when consumer confidence wanes. While Irish consumer confidence dipped to two-year lows in April, according to the European Commission survey, sentiment rebounded somewhat in May, the lender noted. The decline in confidence was largely confined to concerns about the broader economic outlook, Bank of Ireland said. In contrast, consumers' expectations regarding their intentions to make major purchases remained more resilient. This divergence suggests that while Irish households are aware of global risks, they are not allowing these concerns to significantly influence their day-to-day or long-term spending decisions. Commenting on the figures, Bank of Ireland's Chief Economist, Conall Mac Coille, said: "Irish consumers are understandably cautious about global developments, but the data shows they remain confident in their own financial outlook. "The 6.5% rise in card spending in May reflects a resilient economy and a willingness to continue making key purchases. This broad-based growth across sectors highlights the strength and stability of household consumption, even in the face of international uncertainty."
Agriland
5 hours ago
- Agriland
Watch: ABP marks 10 years of research at demo farm
ABP Food Group hosted a special event today (Tuesday, June 10) to mark a decade of research on the ABP Demo Farm in Co. Carlow. Attended by agri-industry personnel from across Ireland, the event highlighted progress made to date on reducing climate emissions and improving on-farm efficiency. The Sheppard family-owned, 280ac dairy-beef farm, has partnered with ABP since 2015. The partnership was established to test and validate practical on-farm solutions to reducing greenhouse gas emissions from beef production, whilst also increasing efficiency. The ABP Demo Farm research is in collaboration with, and independently verified by, Teagasc and the Irish Cattle Breeding Federation (ICBF). The key findings and achievements from the ABP Demo Farm to date include: The farm's carbon footprint is 32% lower than the average beef farm in Ireland, based on Bord Bia data, with steers finished 180 days earlier (ABP Beef Benchmark Report); The research findings indicate that high genetic merit beef sires, compared to lower-merit sires, produce cattle that are on average 38kg heavier and worth €301/head more at the same slaughter age. The gap between the best and worst sires reached 62kg in carcass weight and €511 in carcass value; Hereford cattle ranked in the top third of the Commercial Beef Value (CBV) and delivered €220 more in returns than those in the bottom third; Over 5,500 cattle have gone through the trial programme to date with more than 80,000 live-weights recorded from the trial farm alone; 150,000 doses of semen have been distributed through the Gene Ireland Programme; Progeny from 279 AI beef bulls have been tested, with these sires going on to produce 885,000 calves on Irish farms. The establishment of the ABP Demo Farm followed findings from ABP's work with the Science-Based Targets Initiative (SBTi), which revealed that over 90% of emissions across its supply chain occur at farm level. Ongoing and future research initiatives at the ABP Demo Farm include: Working with the ICBF, Teagasc, and Meat Technology Ireland (MTI) to develop genetic strategies for earlier finishing and lower daily methane emissions; Participation in the Water EIP Programme with Teagasc and the Local Authority Waters Programme (LAWPRO) to enhance water quality without compromising productivity, with three ABP team members currently training to support farmers through this scheme; Being the first beef farm in Ireland to adopt the Glasport Bio GasAbate slurry inoculation system, which Teagasc has shown reduces methane emissions by 80% and ammonia by 50%; Running a second-year grazing study in partnership with University College Dublin and BiOrbic, comparing multi-species swards and perennial ryegrass in terms of animal performance, grass growth, fertiliser use, and environmental impact; Measuring soil carbon stocks through 273 soil samples across different depths to track future gains in carbon sequestration. The research findings from the ABP Demo Farm have directly contributed to the creation of ABP Beef Benchmark Report and support the ICBF Gene Ireland Beef programme which aims to identify the most suitable beef bulls for use on the dairy herd. Advantage Beef Programme The success of the ABP Demonstration Farm has also led to the creation of the ABP Advantage Beef Programme, an enterprise partnership that assists farmers to build a more-sustainable beef business. The programme now includes over 1,000 participating suppliers and is a key element in expanding the research findings of the ABP Demonstration Farm across the family farm supply chain. In 2024, the 35,000 cattle produced as part of the ABP Advantage Beef Programme were on average 85 days younger at finish, with just a 4kg lighter carcass weight. ABP is currently working with Teagasc, ICBF and MTI on new projects focused on genetic selection for earlier finishing and animals that emit less methane per day, as well as projects focused on improving water and soil quality. Agri-sustainability manager at ABP, Stephen Connolly, said: 'The ABP Demonstration Farm is a long-term investment in the future of sustainable beef production in Ireland. 'Our objective is to develop systems and share solutions that support farmers and allow their businesses to grow. The key focus of our projects is economic and environmental sustainability and in this, our key areas are animal breeding and grassland management. 'Although this farm is focused on dairy beef, many of the practices developed here can be transferred to suckler-beef systems, which remain an integral part of Ireland's beef sector,' Connolly added.
