
Carbon tax adds €7m to green diesel from tomorrow
Today at 09:22
Irish farmers are 'indirectly paying' an additional €60m in carbon taxes through higher agricultural contractor charges, the Association of Farm Contractors in Ireland (FCI) has said.
And a carbon tax increase due on May 1 is expected to add around €7m to the cost of agricultural diesel for the agricultural contracting sector, the association said.

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The Journal
3 minutes ago
- The Journal
Ireland is seventh most expensive country for mortgages in the eurozone
IRELAND IS THE seventh most expensive country in the euro area to take out a mortgage despite falling interest rates, according to Central Bank statistics released today. The Irish average mortgage rate is the lowest it has been since April 2023. However, as rates fall faster elsewhere, Ireland has climbed one place higher in the rankings of most expensive eurozone countries to take out a mortgage. The average interest rate on new Irish mortgage agreements was 3.6% at the end of June, in comparison to the eurozone average of 3.29%. Trevor Grant, chairperson of Irish Mortgage Advisors, said the rules imposed on Irish lenders are contributing to Ireland being one of the more expensive countries in the eurozone for home loans. He said: 'Irish lenders are required to hold more capital than many of their European peers. Also, when a borrower defaults on a mortgage, Irish lenders have stated that they often find it more difficult than other European lenders to take control of and sell off the assets that were pledged as collateral to secure the mortgage.' Grant advised mortgage borrowers to avoid making large financial decisions in the hope that interest rates will further drop. Advertisement He said the pace of further mortgage rate cuts is likely to 'slow or even come to an end' due to the European Central Bank's decision to pause rate cuts last month . Instead, he advised borrowers to asses their mortgage options and secure a strong mortgage deal now. Grant said there is 'still room for improvement' and competition is slowly bringing down interest rates. 'There is still plenty of competition out there amongst lenders and for borrowers to take advantage of. Some lenders started offering sub-3% mortgage rates this summer, which represented a significant milestone for Irish borrowers and should lead to substantial savings for homeowners and house buyers,' he said. 'Borrowers, however, need to be proactive. Customer apathy means many are paying more for their mortgage than they need to. Now is the time to assess your mortgage options carefully. The window for securing a strong deal is open, especially as lenders continue to price more competitively.' Colin Rockett, Senior Mortgage Advisor with NFP Ireland, said the interest rate reductions in Ireland are 'modest and not fast enough to keep pace with wider eurozone trends'. He warned that the 15% tariffs on most imports from the EU to the US could push up inflation in Ireland and across the EU, which may cause an increase in ECB interest rates in the coming years. A rise in ECB interest rates means mortgage borrowers could come under pressure. Rockett advised borrowers to speak with advisors about potential savings on their current mortgage through switching or locking in better terms. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal


Irish Independent
5 minutes ago
- Irish Independent
University of Galway defends new non-Irish speaking president amid Sinn Féin ‘step backwards' claims
Today at 11:42 The University of Galway has defended its newly appointed president after the Sinn Féin spokesperson for Gaeilge said the university had taken a 'step backwards' by hiring a president with no Irish. Sinn Féin spokesperson for Gaeilge Aengus Ó Snodaigh TD wrote to the newly appointed president of University of Galway, Professor David J Burn and the chairperson of Údarás na hOllscoile, Máire Geoghegan-Quinn, seeking an urgent meeting to discuss the status of Irish in the university in the wake of the decision.

The Journal
17 minutes ago
- The Journal
Ex-SDLP leader Colum Eastwood says he rejected a knighthood ... using 'strong language'
FORMER SDLP LEADER and possible Irish presidential candidate Colum Eastwood said he rejected an offer for a knighthood from Westminster using 'strong language'. Speaking on BBC NI's Red Lines podcast with Mark Carruthers, the former Social Democratic and Labour Party (SDLP) leader said a politician in Westminster extended the honour to him. 'I looked at the person and used language that I can't use in this podcast and said: 'Do you know who it is you're talking to?' 'People in the political establishment in London don't really understand the North, ' he said. The Foyle MP, who resigned as SDLP party leader last October, said the politician then asked him he if he would like to join the privy council, but he declined that offer too. The privy council is the formal advisory body to the monarch, privy counsellors advise the King on exercising the Royal Prerogative, which is the executive power of the monarch to make decisions such as declaring war. 'I said: 'I tell you what, the Budget's coming up, throw in a few quid for Derry from that Towns Fund and that'll do alright,' Eastwood said. 'So we got £20m for Derry as part of that conversation.' He described Westminster as 'bonkers' for 'going around offering people gongs to thank them or buy them in'. Advertisement 'As someone who doesn't want Westminster to even be running Northern Ireland I have absolutely no interest in any kind of gongs from any British government, I was happier with £20m for Derry.' The SDLP is a social democratic and Irish nationalist party in Northern Ireland. Their main aim is to join the North and South of Ireland using non-violent means and create a new Ireland. The party was formed in 1970, and led by John Hume from 1979 to 2001. It has previously been reported by the BBC that Eastwood is considering a bid for Áras an Uachtaráin . When asked by Carruthers about a potential candidacy, Eastwood said: 'The most important thing for me is to have a conversation about Irish unity as part of that presidential election'. Eastwood said a 'number of people from different political parties' have spoken to him about running in the election, but he has not yet made a decision on the matter. The Journal previously reported that Taoiseach Micheál Martin said he is not aware of any engagement with Eastwood over becoming the party's candidate for the Irish presidency. When Carruthers put this to him, Eastwood said: 'He should be surprised because we hadn't talked about it'. He said that although he had spoken to 'credible' people within different political parties in the Republic, he had not spoken to Fianna Fáil leadership at the time. The Foyle MP believes there will be a united Ireland 'a lot sooner than people think', and the Irish presidency would be useful in reaching this end. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal