The State will need to take “emergency measures” to provide electricity supplies needed for new homes, ESB chief executive Paddy Hayes has told the Government. Barry O’Halloran writes that industry figures are warning that Government efforts to end the Republic’s long-running housing shortage will strain energy and water supply networks.
That alert comes as Minister for Finance Pascal Donohoe extends the VAT cut on apartment sales to forward-funding deals, which are increasingly used by approved housing bodies and others to deliver apartments. Eoin Burke-Kennedy has the details.
That might be needed as data from Construction Information Services says new housing commencements fell by 49 per cent to their lowest level since the Covid-19 lockdowns in the third quarter of 2025. Eoin writes that the figures raise fresh doubts about the Government’s plan to deliver 300,000 new homes by 2030.
And for those buying the few homes available, mortgage rates from Irish lenders are inching up, according to the latest figures from the Central Bank.
Away from housing, as the Government goes all in on digital services with a plan this week looking to fully digitalise public services by 2030, Ciara O’Brien argues that being tech savvy should not be a requirement to access State services.
Almost one in four homeowners has yet to file a local property tax return even though Revenue extended the deadline for updated valuations on homes which will determine local property tax bills over the next five years. Conor Pope and Orla Ryan have the details
Business grandee Gary McGann joins Ciarán Hancock on the Inside Business podcast to talk about his early years and the highs and lows of a business career that saw him lead drinks group Gilbeys, Aer Lingus and packaging group Smurfit and have a busy career as a non-executive director. McGann offers his perspective on the current state of the Irish economy, and what we could be doing better, as well as giving some tips for young business leaders starting out in their careers.
European Central Bank vice-president Luis de Guindos told the Federation of International Banks in Ireland conference that the European Union’s current agenda to simplify business rules and boost capital flow across the union, aimed at enhancing competitiveness, cannot succeed without the development of a true single market for goods and services. Joe Brennan was there.
Joe also writes that Paul Coulson’s Ardagh Group has tapped a US corporate turnaround veteran, Mark Porto, to become executive chairman as a group of bondholders took over the packaging giant on Wednesday in a restructuring of its former $12.5 billion (€10.8 billion) debt. Mr Coulson has now left the group.
Redesdale, a venture capital group specialising in start-up businesses in the food and drink sector, has invested in Talio Technologies, which uses artificial intelligence to help food businesses identify emerging consumer trends.
Finally, a Belfast lawyer who claims he was defamed by Denis O’Brien in a press release issued on behalf of the businessman has said the complained-of statement had “dangerous” and “sinister” connotations, implying that he acted for and received payment from the IRA and was unprofessional and lacked integrity.
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