Finance Minister Rules Out Spring Cost-Of-Living Package

Monday, 8 January 2024 13:28

Your business headlines also include Rolls Royce saying they had "extraordinary sales" last year.

There won't be any spring cost-of-living package this year.

The Finance Minister has ruled it out, and is warning measures introduced by government to help with high prices in recent years, will need to be tapered off.

Michael McGrath has told the Irish Times that 'exceptional interventions' can't be the norm and can't be funded indefinitely in a more normal economic environment.

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Rolls-Royce say they've had "extraordinary sales" last year - with electric vehicles helping the surge.

Figures show 6,032 cars were sold in 2023 - 11 more than in the previous 12 months.

The head of the luxury car maker says they saw a record number of "bespoke commissions" with people able to customise their orders.

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Popular Dublin parklands should be used to build accommodation for key workers, according to one businessman.

Paschal Taggart has submitted a proposal to local councillors and Government officials to build on green spaces, such as the Phoenix Park.

He's proposing using 10% of the 4,500 of the capital's parks to build up to 40,000 apartments for teachers, Gardaí, nurses and firefighters.

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Apple has started paying out compensation to owners of some iPhone models in the US, after admitting it deliberately slowed them down.

The company agreed to a settlement of $500,000 in 2020, working out at around $92 for each claim.

During the case, it argued as batteries aged, their performance decreased, and so the "slowdown" lengthened the phones' lifespan.

A similar case is ongoing in the UK, worth £1.6 billion in compensation.

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Looking at today's Currency Markets, €1 buys you £0.86 and $1.09
While the ISEQ Index of Irish Shares is at 8,640, down 0.25% since opening.

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