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Irish Times
03-08-2025
- Business
- Irish Times
Economist calls for budget ‘prudence', as Central Bank governor suggests rethink is needed
'A lot of prudence' is needed in Budget 2026 , while there is a case for postponing recurrent spending and tax cuts until there is 'greater clarity' on the negative implications of the EU-US trade deal , a prominent economist has said. Dan O'Brien, the chief economist of the Institute of International and European Affairs , made the remarks while responding to comments from the Central Bank governor Gabriel Makhlouf suggesting the Government should rethink its approach to the October budget. In its summer economic statement last month the Government said a €9.4 billion tax and spending package will form the foundation of the upcoming budget. However, the Coalition warned at the time it may have to 'recalibrate' its strategy and reduce the size of the overall package if there is a 'deterioration in the tariff landscape' over the coming months. READ MORE The European Union has since struck a trade deal with the United States which sees EU goods, including those from Ireland, hit with 15 per cent tariffs by the US. The Business Post reported on Sunday that Mr Makhlouf said Minister for Finance Paschal Donohoe now has 'more certainly' for planning the budget with the level of tariffs on EU goods known. 'Hopefully the summer economic statement is not the budget, and hopefully, by the time he (Mr Donohoe) gets there, he will have reflected again on what the trade situation is telling us,' Mr Makhlouf said. He added: 'For an economy operating at full employment, we're adding more stimulus to the economy than it needs – and I would look again at what we're planning to do.' Mr Makhlouf also told the paper: 'I think at the moment there's a risk that we're in the wrong place.' [ What did the summer economic statement really tell us about Budget 2026? Opens in new window ] A spokeswoman for Mr Donohoe declined to comment on Mr Makhlouf's remarks. During an interview on Newstalk radio on Sunday, Mr O'Brien was asked if he agrees Mr Donohoe needs to rethink the budget. He said this suggestion is 'largely' correct, as 'we're facing a lot of uncertainty'. Mr O'Brien added: 'I think the Government needs to manage expectations around this. There's been a lot of giveaways [in recent budgets]. Clearly we had a general election last year.' He said there has been a 'big uptick in inflation' but this has 'come right back down again' and 'there isn't the justification for Government to be intervening to deal with every problem'. Mr O'Brien said the implications of the trade situation for the pharmaceutical sector are uncertain, relying on the 'whims of the US president who may just decide he doesn't like the pharmaceutical sector in Europe selling stuff to the US and he may do something more radical'. He added: 'So there's a lot of uncertainty here, and I think we need a lot of prudence in this budget.' Asked about potential tax choices in the budget, Mr O'Brien argued there is 'no economic justification' for the Government's intention to reduce the VAT rate for the hospitality sector. 'One might strongly make the case that both recurrent spending and tax cuts maybe need to be postponed until we get greater clarity as to the negative implications of the trade deal and the extent to which it effects particularly the pharmaceutical sector and how that feeds into corporation tax revenues,' Mr O'Brien added. 'We just don't know how big a hit that could impose on the public finances if we get a change in pharmaceuticals sales to the US and that results in a reduction in corporation tax profits.' Did the EU have its hands tied before striking a trade deal with the US? Listen | 23:32
Yahoo
16-07-2025
- Business
- Yahoo
FSI ANNOUNCES SECOND QUARTER, 2025 REVENUE
TABER, ALBERTA, July 16, 2025 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. In addition, FSI is increasing its presense in the food and nutrition supplement manufacturing markets. Today the Company announces second quarter (Q2), 2025 revenue. Sales were up in Q2, 2025 compared to Q2, 2024. Flexible Solutions' top line revenue increased to $11.212 million (Q2, 2025) from $10.529 million (Q2, 2024) to), up approximately 6.5% year over year. Mr. Dan O'Brien, CEO, comments, 'The $2.5 million payment for food grade product development moved our Q2 revenue from poor to good. We saw weakness from several historic customers in the quarter most likely related to general business conditions, tariff uncertainty and inventory reduction.' Mr. O'Brien continues, 'Volatility in our base business reinforces our decision to emphasize food grade operations but, it does not change our opinion that the second half of 2025 will see growth unless economic conditions decay further.' Complete financial results will be available after market close on Thursday, August 14, 2025, concurrent with the Company's SEC second quarter filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Time, the following business day, Friday, August 15, 2025. See the FSI August 14, 2025 financials news release for the dial in numbers. About Flexible Solutions International Flexible Solutions International, Inc. ( based in Taber, Alberta, is an environmental technology company. The Company's NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. In 2022, the Company entered the food and nutrition markets by obtaining FDA food grade approval for the Peru IL plant. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. Safe Harbor Provision The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission. Flexible Solutions International6001 54th Ave, Taber, Alberta, CANADA T1G 1X4Company Contacts Jason BloomToll Free: 800.661.3560Fax: 403.223.2905Email: info@ To find out more information about Flexible Solutions and our products please visit If you have received this news release by mistake or if you would like to be removed from our update list please reply to: info@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-07-2025
- Business
- Yahoo
FSI ANNOUNCES RECEIPT OF A $2.5 MILLION PAYMENT FOR ASSISTING IN THE DEVELOPMENT A NEW FOOD GRADE PRODUCT
TABER, ALBERTA, July 01, 2025 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE Amex: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. FSI is also increasing its presense in the food and nutrition supplement manufacturing markets. Today the Company announces it has received payment of US$2.5million for assisting in developing a new food grade product. FSI received the payment of US$2.5 million on July 1, 2025 for assisting in the development of this new food grade product. There are potential circumstances under which FSI may receive additional payments for this product development assistance. Any such payments, if they occur, are several quarters in the future. Furthermore, it is also possible that the NCS division of FSI may obtain new business manufacturing the product. Should this occur, it will be announced at that time. Dan O'Brien, CEO, comments, "We are pleased that our R&D support for a potential customer has generated this revenue." Mr. O'Brien continues, " Since FSI is a food grade manufacturer and we focus on building long-term production relationships, we hope that we can book orders to make the product now that it is fully developed." About Flexible Solutions International Flexible Solutions International, Inc. ( based in Taber, Alberta, is an environmental technology company. The Company's NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. In 2022, the Company entered the food and nutrition markets by obtaining FDA food grade approval for the Peru IL plant. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world Safe Harbor Provision The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission. Flexible Solutions International6001 54th Ave, Taber, Alberta, CANADA T1G 1X4Company Contacts Jason BloomToll Free: 800.661.3560Fax: 403.223.2905Email: info@ To find out more information about Flexible Solutions and our products please visit If you have received this news release by mistake or if you would like to be removed from our update list please reply to: info@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
