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Irish Independent
02-06-2025
- Business
- Irish Independent
Death of an Irish institution? New Sunday Independent/Ireland Thinks poll reveals how few go to the pub every week
While the local watering hole was once regarded as an 'Irish institution', the study found only 9pc of people said they go to the pub once a week, 7pc went every fortnight and 19pc said they went just once a month. The cost of alcohol in bars is believed to be one reason why many don't pull up a bar stool any more. Meanwhile, Gen Z – those 28 and under – are less likely to drink alcohol at all, with many prioritising hobbies, health and wellness. Michael Kilcoyne, chair of the Consumers' Association of Ireland, said the fact that the Irish pub was no longer popular, is 'worrying from a community and societal aspect'. 'Pubs down the country have been affected badly due to a lack of transport,' Mr Kilcoyne said. 'And in general, the price of alcohol in pubs is too high for a lot of people struggling with high rent and mortgages. 'Others are trying to save for a mortgage and many are living in their parents' box rooms, just unable to afford a night out at the pub. 'This means pub staff will lose their jobs and also impacts the coming together of people as a community in Ireland. 'The pub is where friends, family and colleagues always met and what have we got if we're not meeting up to socialise? A lack of community, isolation, loneliness and a lack of community spirit. 'That's really a very bad thing and it seems this Government has switched off to the reality of what people are going through in Ireland today. 'People just don't have the money to go to the pub to socialise or even go on holiday due to the cost of living and wages not being high enough to meet it.' The survey found 40pc of people can't afford to take a summer holiday this year while 55pc said they could and 5pc were unsure. Pub landlords contacted by the Irish Independent weren't available to talk or didn't wish to comment on the issue. But the CEO of the Vintner's Federation of Ireland, Pat Crotty, a former publican, told RTÉ: 'It's very difficult. The net position for the publican outside of an urban area is that he's dying slowly.' He added: 'Even for pubs relying on tourists, the Central Statistics Office (CSO) has shown tourist numbers are down at a time when they should be up.' Mr Crotty said publicans are in a difficult situation with regards to legal and financial obligations, and very few can continue in the position they are in.
Irish Independent
16-05-2025
- Automotive
- Irish Independent
‘Green' loans and cars drive record rise in consumer borrowing, but fears raised over possible global downturn
It is the highest personal loan activity since the banks started recording personal borrowing levels in 2020. These figures come as the Central Bank of Ireland reported there was more than €13bn in outstanding consumer credit at the end of March. This is the highest level since February 2020 when debts were built up during the Celtic Tiger. The vast chunk of current personal loans have repayment terms of more than one, and up to five years. This means consumers will be repaying them for years with economists warning US tariff and tax policies could trigger a global recession. Car loans of close to €850m were drawn down last year to fund the purchase of 66,200 vehicles. This was a rise of 14pc on the previous year, with the value of the vehicle loans up by 20pc. In the last three months of last year almost €200m was borrowed to fund car buying, according to new figures from the Banking and Payments Federation Ireland (BPFI). The average car loan is now €12,757, up from €12,442 a year earlier. Loans for home improvements and 'green' home improvement projects all hit new highs. The BPFI, which represents the banking, payments and fintech sector in Ireland, said borrowing was at its highest since it started recording personal loans in 2020. Consumers took out just short of 230,000 personal loans last year, adding up to €2.5bn. That was up around 16,000, or 13pc compared with 2023. The average home improvement loan was €12,086, up from €11,305 in 2023. The number of home improvement loans, at 15,033, was up 22pc year-on-year, amounting to €182m. The figures come as the Central Bank of Ireland reported that outstanding consumer credit stood at €13bn at the end of March this year, the highest it's been since February 2020. Brian Hayes, chief executive of the Banking and Payments Federation Ireland, said the rapid increase in personal debt reflected growing consumer confidence. 'Annual figures show that the total number of personal loan drawdowns in 2024 was 229,423 valued at nearly €2.5bn, an increase of 13pc and 21.6pc in volume and value respectively compared to 2023, and the highest activity levels since the data series began in 2020.' But Michael Kilcoyne, chairman of the Consumers' Association of Ireland, a voluntary lobby group, sounded a note of caution. 'I don't know that it is wise for so many people to be taking out personal loans given the global economic uncertainty out there,' he said. He questioned if people should be borrowing for holidays when there was a threat to the corporation tax take here from Donald Trump's tariff plans, and his calls for pharmaceutical companies to 'reshore' operations to the US. Mr Kilcoyne said: 'We are facing a period of huge uncertainty.' Mr Hayes said each category of personal lending has reached its highest level. 'Looking more closely at key categories, each segment reached its highest volume and value in annual terms, with other loan activity – including education, holidays and special occasions such as weddings – more than doubling since 2020.' The banks said the value of green personal loans jumped by 56.8pc since 2023 to €30.2m in the last quarter of 2024. In number, green loans rose by 48.7pc over the same period to a total of 1,326. The average green loan was 'relatively high' at €22,795 in quarter four, with more than twice the average of €10,425 for all loans in the same quarter, Mr Hayes said. 'It is encouraging to see a continued rise in demand for green personal loans with 5,178 green personal loans valued at €120m in 2024,' Mr Hayes added. Independent economist Austin Hughes said the record lending levels were keeping pace with pay rises. 'These numbers aren't as staggering or as threatening as first appears. 'Overall, non-mortgage consumer debt rose slightly less than household incomes last year as new lending only slightly exceeded maturing loans.' Mr Hughes said there was little indication of any return to Celtic Tiger norms despite the sharp increase in new borrowing.
Irish Independent
13-05-2025
- Business
- Irish Independent
Warning letter issued over development at Mayo hotel
The eight-bedroom hotel, which is accommodating 16 people in emergency accommodation at present, is owned by Manchester-based Pat and Mary Mulhern, who invested over €1 million in restoring the hotel. Local county councillor Michael Loftus expressed concern that ten extra bedroom spaces were being added to the hotel. Last November, the hotel ceased trading 'due to economic challenges facing the hospitality sector'. It has since been providing emergency accommodation for Mayo County Council. Speaking at the monthly meeting of Mayo County Council in Bonniconlon Community Centre, Cllr Loftus described the attempts to add extra bedrooms to the Dolphin Hotel function room as 'crazy'. The Fianna Fáil councillor proposed that people in emergency accommodation should be accommodated on a basis of one bedroom per person. Cllr Michael Kilcoyne seconded his proposal, saying he had received complaints about two strangers being accommodated in one room at one premises. Mayo County Council is currently paying €59.85 per person to hotel owners who provide them with emergency accommodation. In the last week of March, 149 adults accessed emergency accommodation in Mayo. Catherine McConnell, Mayo County Council's Director of Services for Planning, told the Irish Independent that the local authority had issued a preliminary warning letter to the Dolphin Hotel owners. She said that 'no decision on whether any unauthorised work has been carried out has yet been made'. In March, Mayo County Council issued a planning enforcement letter to the owner of the Railway Inn in Ballinrobe accusing him of unauthorised development. ADVERTISEMENT The council alleged that the change of use of the premises from a hotel to emergency homeless shelter required planning permission. Mayo County Council stopped using the property for emergency accommodation following several disturbances in the area around the premises. Separately, Mayo county councillors have called for people in emergency accommodation to be accommodated in their area. At present, several homeless people in Mayo are being accommodated at a former nursing home in Charlestown. Mayo County Council have used the former St Anne's nursing home as emergency accommodation since December 2023. The local authority are currently in a five-year agreement with the owners of the nursing home, which closed in the summer of 2023. The 26-bed facility can accommodate up to 100 people. It is accommodating mostly families at present. Cllr Michael Kilcoyne, who proposed the amendment to Mayo's homelessness action plan, said it was 'wrong' that people in emergency accommodation had to move far away from their area. 'People that become homeless in Castlebar are moved to Charlestown, Crossmolina, wherever…people in Ballina who are being made homeless, some have been moved the same way, and that's wrong.' Mr Kilcoyne's suggestion was backed by Fianna Fáil's Damien Ryan, who said that 'each area should have to look after its own' homeless people. Mr Ryan reiterated Mr Kilcoyne's concerns about children having to be taken out of schools to move to another area.
Extra.ie
07-05-2025
- Business
- Extra.ie
Families feeling the pinch as cost of basic groceries still rising
Grocery inflation has more than doubled over the past 12 months, new figures show. The price of shopping basket staples, milk and meat, are up over 10%, putting a further squeeze on family budgets. Price inflation in the supermarkets stands at almost 5% compared to a year ago, when inflation was at less than 2.4%, according to Kantar, which monitors thousands of prices every month. Grocery prices are on the rise. Pic: Shutterstock Despite ECB efforts to bring inflation under control, families are 'really starting to feel the pinch' from the spiralling prices, said Michael Kilcoyne, chairman of the Consumers' Association of Ireland. General inflation is at the ECB's target of 2%, but certain staple foods are going up faster than that. For example, weekly staples such as milk is up 12.5%, tea bags are up 4%, pork chops are up almost the same, while a small treat such as a litre of orange juice has shot up over 10%. Mr Kilcoyne said: 'Inflation has more than doubled, that's disgraceful, and people are feeling it all over the place. 'It's tough, and that's without taking into account things like electricity.' The grocery market is controlled by five different groups here, he said. 'The Government will have no choice but to give families a cost-of-living rise come the next Budget, even though the Taoiseach has ruled out that. Grocery prices are on the rise. Pic: Getty Images 'Clearly there's a big difference between somebody getting the Old Age Pension of less than €15,000… and his salary of almost €250,000, or the salary of the Minister for Finance as well. These are things you can't do without: bread, butter, milk, cereals…' However, just weeks ago, Finance Minister Paschal Donohoe said energy credits cannot 'become the norm' despite advice from officials that they are still needed to address high fuel and electricity costs. The Government has ruled out issuing more energy discounts in the next budget, despite them becoming a regular feature during the cost-of-living crisis. Domestic electricity customers got €250 in credits towards last year's bills. The higher prices mean the cost of supermarket sales over the four weeks to April 20 were up by 8.4% compared to the same period last year. Kantar director Emer Healy said: 'Despite average prices continuing to rise, it's clear Irish consumers are still treating themselves. 'With Easter falling late this year, it's been a real boost for retailers who have benefited from special occasions including St Patrick's Day, Pancake Day, Easter and the May Bank Holiday.' Although prices influence decisions, it is clear Irish shoppers still cherish quality. Ms Healy added: 'This is evident with both branded and premium own-label products growing faster than the market as a whole. 'Our data shows shoppers spent an extra €102million on these two ranges compared to last year. Brands continue to hold a higher value share of the total market with 47.7% while own label holds 46.9%.' Last month also saw a steep rise in drink sales, which were up 8.7% year-on-year. Shoppers spent an extra €8million on beer and cider, wine and non-alcoholic drinks compared to the same period in 2024. The recent warm weather also boosted the performance of typical BBQ choices for the home griller. An extra € 1.1 million was spent on sausages, antipasti, coleslaw and potato salad in April.
Yahoo
08-04-2025
- Climate
- Yahoo
Local farmers scramble to save what's left after catastrophic crop collapse: 'We urgently need help'
In January, Storm Éowyn hit Ireland, leaving a path of destruction and flooding. The record-breaking extratropical cyclone was the most powerful storm to hit Ireland since Hurricane Debbie in 1961. Now, the full extent of the damage may be coming to light. According to The Irish Times, Storm Éowyn caused over €500 million (around $540 million) in damages to forests. It also damaged winter crops such as cabbage, carrots, cauliflower, and leeks, per Business Plus, which detailed the devastating effects of the storm. One farmer was deeply concerned about the destroyed winter crop and future summer crop, saying, "We urgently need help on this one." In addition to affecting existing crops, Storm Éowyn could hamper future crops. As Business Plus explained, farmers worry that the ground could be too wet for sowing new crops, leading to shortages later in the year and food price increases. Michael Kilcoyne, chief of Consumers' Association of Ireland, said, "There's a fear that prices in the shops will go up," adding, "It could be that the ground is so wet and has damaged the fields, it'll make sowing crops for later this year difficult." Ireland is rarely hit by hurricanes or cyclones. However, extreme weather events are growing more intense as global temperatures rise, and areas not previously impacted are feeling the effects. Pete Falloon of the University of Bristol shared his concerns regarding crop vulnerability and the current state of our climate, saying, "Crops are often vulnerable to extreme weather, and we can expect to witness ongoing shocks to global agricultural production and supply chains, which ultimately feed into food security concerns." In short, destroyed crops mean less food. Less food leads to higher grocery prices. There's no magic wand to make severe storms disappear. However, it may be possible to reduce their intensity and impact. Strengthening infrastructure with climate-resilient buildings, improving emergency preparedness, planning evacuations, and fortifying homes can enhance safety now. At the same time, reducing pollution from dirty fuels — the primary cause of our overheated planet — could bring an angry planet back into balance. You can contribute to a cooler future by upgrading to energy-efficient appliances known to provide significant savings on utility bills. Should grocery stores donate food that's past its sell-by date? Yes — as long as it's not bad Yes — but only certain foods Only if it doesn't cost the store No — it could lead to problems Click your choice to see results and speak your mind. Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
