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Irish Independent
33 minutes ago
- Irish Independent
Many of those getting married forced to borrow to fund the ceremony
And the average budget for an Irish wedding is now between €10,000 and €20,000, according to research carried out by online savings platform Raisin Bank. More than half of married couples who were surveyed said they splurged at least €10,000 on the nuptials.
RTÉ News
2 hours ago
- RTÉ News
PwC calls for Capital Gains Tax to be reduced to 20%
PwC is calling for the the reform of the Residential Zoned Land Tax (RZLT), to broaden tax policy and to reduce the Capital Gains Tax to 20% from 33%. The proposals are part of PwC's 2026 Pre-Budget Submission aiming to reset tax policy in a number of key areas to promote Ireland's competitiveness Tax Leader, PwC Ireland, Paraic Burke, said the need to bolster Ireland's competitive offering has never been more apparent in a period of increasing global instability and heightened international tax competition. "With increasing geopolitical risks and uncertainties, Ireland must take action to control our own controllables. While there are constraints about what we can do at international levels, domestically, Ireland has full control to determine its destiny on key domestic issues such as housing, decarbonisation and energy security," said Mr Burke. "Ireland must continue to simplify its tax system, expand incentives and support businesses and individuals in driving sustainable growth. Tax policies and incentives, if wisely chosen, could be critical to addressing Ireland's key infrastructural, housing, climate and other challenges. "Following endorsement from the EU to utilise targeted tax incentives, the Irish government should not be afraid to use them. Budget 2026 offers Ireland an opportunity to make changes that can help to direct the future course of our country." PwC's Submission calls for the reduction in the 33% Capital Gains Tax (CGT), one of the highest in Europe, to 20% to promote the transfer of businesses to the Irish business leaders of tomorrow. It suggests treating the exit of a shareholder from a business as a CGT event rather than being subject to income tax (and higher tax) would be an important step towards achieving this.
Extra.ie
2 hours ago
- Extra.ie
Construction workers in Ireland are a third less productive than elsewhere, report warns
Irish construction workers are one-third less productive than their international peers, partly because of poor uptake of modern methods of construction (MMC), a new report warns. While the Government is now set on developing MMC as a core means of addressing the housing crisis, a new report from the Irish Fiscal Advisory Council (IFAC) today indicates that Irish construction workers lag behind their peers in productivity. The report notes that a shortage of infrastructure is a 'legacy' of the financial crisis. It says: 'Much of the capacity in the construction sector was lost thereafter. Many construction firms went bust, and many of the workers emigrated. Construction employment quickly fell from almost 240,000 to 85,000. 'Although employment has gradually recovered since then (up to 170,000 workers), investment in new construction methods has lagged behind other countries. As a result, output per hour worked is 33% lower than in peer countries. Pic: Getty Images 'This partly reflects the low uptake of modern methods of construction, such as off-site manufacturing. 'This low level of investment may be due to the boom-bust nature of the construction sector in Ireland. 'When firms see how quickly things can change, they may be more reluctant to invest for the long term.' The report says that in order for Ireland to catch up it needs to do three things. Firstly, it will need to sustain high levels of investment in key areas. It states: 'Some of the infrastructure deficits are in areas where the State is the biggest provider, for example healthcare. Government capital investment in healthcare is already at high levels. If this can be maintained in the coming years, this will help address infrastructure shortfalls in that area.' Pic: Getty Images Secondly, the Government will need to boost productivity in the construction sector if it is to make the need for additional workers less acute. And thirdly, the planning and objection system for construction will need to be streamlined. The report states: 'Delays and uncertainty created by the system are impacting projects. 'The new Planning and Development Act may help but it is too soon to tell. 'Most investment is carried out by the private sector, so this needs to be facilitated as much as possible. 'This is particularly important now, as investment tends to be delayed during periods of uncertainty.' The report also notes that Ireland's infrastructure continues to lag behind other high income European countries, citing research that shows Ireland's infrastructure is about 25% behind that of our peers. Pic: Shutterstock The report states: 'Significant shortfalls in housing, health, transport and electricity are evident. 'These challenges can only be addressed through sustained high levels of investment in these areas. 'Regardless of what happens to the international environment, these infrastructure deficits need to be addressed. 'If the economy weathers the changing environment, it will have high levels of employment and high demand for infrastructure.'
