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Warning on electricity costs, O’Flynn’s zoned land tax bill, and RTE’s next DG

Business Today: the best news, analysis and comment from The Irish Times business desk

Who would want to succeed Dee Forbes as director general of RTÉ.

Ciarán Hancock's face
Ciarán Hancock
Tue Apr 11 2023 - 06:28

The proposed North-South interconnector is crucial for the security of Ireland’s energy infrastructure but delays mean its costs are escalating, which combined with power system constraints will have knock-on impact on electricity prices, according to a new report from Engineers Ireland. Kevin O’Sullivan reports.

Property developer Michael O’Flynn has been informed by Cork City Council that 12 of the 18 housing sites that it had listed for inclusion for the new residential zoned land tax (RZLT) have now been excluded from the tax. But he estimates that he could face an annual tax bill of more than €2 million if he loses his appeal on the other six sites, along with six properties in Cork county that have been listed. Ciarán Hancock has the details.

Who would want to be the next director general of RTÉ? Laura Slattery ponders this question in her media and marketing column.

Looking to upgrade your bank account? Fiona Reddan offers four options in our weekly personal finance feature.

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In our personal finance Q&A, a reader’s child is being gifted €3,000 a year by a grandparent and wonders about the best place to invest the money. Dominic Coyle offers some guidance.

f you want more personal finance coverage you can sign up to our On The Money newsletter, published every Friday, here.

Irish companies with over €2 billion of Covid-era warehoused tax debt have been urged by the chairman of Restructuring & Insolvency Ireland not to “bury their heads in the sand” as they have just over a year to pay what is owed or agree repayment schedules with Revenue. Joe Brennan has the details.

As its passenger numbers reach pre-pandemic levels, Bus Éireann aims to travel one million kilometres emissions-free this year after hitting 470,000km in 2022, writes Barry O’Halloran.

In case you missed it due to the Easter holiday weekend, our columnist Eoin Burke-Kennedy estimates that our surging corporation tax receipts now amount to €5,000 per man, woman and child in this country, and looks at plans by the Minister for Finance Michael McGrath to put the windfall to best use.

In Me & My Money, John Loftus, chief executive and managing director of Co Mayo-based LLR-G5, tells Tony Clayton-Lea why losing money is a good way not to repeat the mistake.

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