Eoin Burke-Kennedy

Journalist at Irish Times

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Articles

Dublin paid half of State’s 2024 income tax while Cork delivered most from corporates

3 days ago | irishtimes.com | Eoin Burke-Kennedy

Dublin accounted for the more than half the income tax and VAT receipts collected by Government last year while more than half of the State’s record corporate tax take emanated from Cork. The Parliamentary Budget Office (PBO) has published a new “interactive dashboard” that provides a more detailed breakdown – by economic sector and county – of the Irish tax base. It shows that €16.2 billion of PAYE income tax in 2024, out of total of €29.6 billion, was paid by workers in Dublin.
ECB expected to cut rates again amid speculation over Lagarde’s role

4 days ago | irishtimes.com | Eoin Burke-Kennedy

The European Central Bank (ECB) is expected to cut interest rates by a further quarter point (0.25 per cent) on Thursday as inflation continues to cool and amid a slowdown in global trade from US tariffs. ECB chief Christine Lagarde is also expected to face questions about her tenure as head of the bloc’s central bank amid speculation she may cut her term short.
How a man described as ‘dumber than a sack of bricks’ came to dominate global trade policy

1 week ago | irishtimes.com | Eoin Burke-Kennedy

Elon Musk called him “a moron” and “dumber than a sack of bricks” but he’s probably the most consequential economist in the world right now. 75-year-old Peter Navarro is the intellectual driving force behind global tariffs and Donald Trump’s attempt to rewire the global trading system. He wangled his way into Maga hearts with his 2011 book “Death by China” (later a documentary) which paints China as the great Satan of world trade.
Stocks rise as markets grapple with US trade ruling

1 week ago | irishtimes.com | Eoin Burke-Kennedy

Global stocks rose while the US dollar weakened after giving up earlier gains against big peers on Thursday as markets digested the surprise ruling of a trade court that blocked US President Donald Trump’s so-called “Liberation Day” tariffs. The US Court of International Trade issued a ruling late on Wednesday that Trump overstepped his authority by imposing across-the-board duties on imports from trading partners.
Tourism slump continues - April data shows decline in visitor numbers

1 week ago | irishtimes.com | Eoin Burke-Kennedy

Latest tourism numbers point to a continuing decline in inbound visitors, a worrying trend for businesses in the sector. According to the Central Statistics Office (CSO), over half a million tourists (528,100) completed trips to Ireland in April, spending approximately €375 million on their trips, excluding air fares. But the headline number was down 4 per cent on the same month last year while spending decreased more than 10 per cent.
Retail sales increase as consumers enjoy real wage hike

1 week ago | irishtimes.com | Eoin Burke-Kennedy

The volume of retail sales rose by 1.1 per cent in April as consumers spent more in department stores, on books and newspapers, and on furniture. On an annual basis, sales volumes were 3 per cent higher, the latest figures from the Central Statistics Office (CSO) show. However, when volatile car sales are excluded, the volume of retail sales fell by 0.1 per cent in the month and increased by just 1.1 per cent in the year.
US trade policy will have ‘lasting impact’ on global economy

1 week ago | irishtimes.com | Eoin Burke-Kennedy

A majority of economists believe US trade policy will have a “lasting impact” on the global economy. That’s according to the World Economic Forum’s latest survey of chief economists. The snapshot of opinion recorded in early April just after US President Donald Trump’s Liberation Day tariff announcement found most economists (77 per cent) were anticipating “weak or very weak growth” through 2025 in the US, alongside high inflation and a weakening dollar.
Dublin’s €70bn infrastructural upgrade: how it breaks down

1 week ago | irishtimes.com | Eoin Burke-Kennedy

Despite the development of the M50, Luas, Dart and the Port Tunnel, Dublin has outgrown its infrastructure and needs a €70 billion investment in housing, transport, water and energy (over 15 years) to catch up. While the figure was used to showcase the consultancy’s Dublin 2040 report, published on Wednesday, highlighting what Dublin-based businesses see as the city’s strengths and challenges, it wasn’t actually contained in the report.
Corporate tax receipts forecast to rise despite Trump tariff threat

1 week ago | irishtimes.com | Eoin Burke-Kennedy

Despite the threat from US tariffs, the Irish Fiscal Advisory Council (Ifac) believes corporate tax receipts will increase in the short term, shoring up the Government’s budgetary position. However, a more protracted trade war between Europe and the US would pose a risk to the Government’s tax base, it said.
Average weekly earnings of Irish workers surpass €1,000 for first time

1 week ago | irishtimes.com | Eoin Burke-Kennedy

Average weekly earnings in the Irish economy have surpassed €1,000 for the first time. Central Statistics Office (CSO) data showed average earnings across all sectors rose (on annual basis) by 5.6 per cent to €1,026 in the first quarter. “Average earnings in the economy continue to increase year-on-year, surpassing €1,000 for the first time in the series (in 2008),” the CSO’s Louise Egan said.