Cliff Taylor

Cliff Taylor

Cliff Taylor is an Irish Times writer and Managing Editor

Taoiseach Micheál Martin seems to want to ‘put the band back together’ on partnership, as one source puts it. Photograph: Paul Faith/AFP via Getty
Cliff Taylor: Threats facing economy now could put Covid in the shade

The economy is a lot more solid than it was in 2008, but dangers abound

Poorer services in Ireland can reflect lower spending or less efficiency – Ictu’s case is that the State needs to spend more. Photograph: iStock
Do you get enough in return for the taxes you pay?

Smart Money: A new report from Ictu shines a light on ‘the social wage’

A loyalist protest in Newtownards last June against the Northern Ireland protocol. Photograph: Brian Lawless/PA Wire
Economic advantages of protocol for North slowly seeping away

Cliff Taylor: Long-term costs could be significant as politics again trumps economics

Are there options open to borrowers to protect themselves from rate rises, at least to some extent .
Cliff Taylor: Which mortgage borrowers will be hit first by interest rate hikes hit?

Smart Money: There are some options for those with loans to protect themselves

A screen in the New York Stock Exchange shows a press conference with Jerome Powell, the chair of the Federal Reserve, following the Fed’s decision to raise interest rates. Photograph: EPA/Justin Lane
Cliff Taylor: The penny has dropped that free money party is over

US interest rates rose, stock markets took fright and Government borrowing costs marched ever higher

Interest rates are on the rise, but have central banks left it too late to properly address soaring inflation? Photograph: iStock
It's happening – interest rates are on the way up

Smart Money: Inflation is becoming more entrenched and rate fears are growing

All investments must be seen through a green lens from now on. Photograph: iStock
Cliff Taylor: Rules of the new economy are being written in green

No one will invest in a country seen to be a climate laggard

Those relying on investments to fund their retirement income have taken a hit in recent months as bond markets have fallen sharply due to inflationary fears and many equity markets have also wobbled.
Cliff Taylor: Pension pots take a heavy hit as inflation upends markets

Smart Money: War in Ukraine has added to woes of funds

A key issue to watch is whether the European Commission agrees a mechanism to pay for Russian gas that satisfies Moscow without breaking the letter of the law on sanctions. Photograph: Maxim Shipenkov/EPA
What do Russia’s gas stoppages mean for Ireland?

Gazprom has suspended gas supplies to Poland and Bulgaria in a payment row

Minister for Finance Paschal Donohoe’s department cut its growth forecasts this week but still sees the domestic economy growing by 4.4 per cent this year. Photograph: Alan Betson
Cliff Taylor: This year will look after itself, but 2023 is another matter

The economic momentum that has been sustaining growth will inevitaby slow

US treasury secretary Janet Yellen with Minister for Finance Paschal Donohoe at a G7 meeting of finance ministers in London shortly before the deal for a minimum global level of corporate tax was announced in 2021. Photograph: Alberto Pezzali/pool/AFP via Getty Images)
Significant doubt hangs over landmark 15% global corporate tax deal

Ireland is at risk of getting stuck in the middle of a nasty row between the EU and US

Market expectations of the extent of likely interest rate rises have jumped sharply in recent weeks. Photograph: iStock
Interest rates will rise – but how high will they go?

Smart Money: Borrowers are already taking measures in anticipation of higher costs

Minister for Finance Paschal Donohoe, left, might have hoped the challenges would be framed by a bounceback from Covid-19, a big improvement in the public finances and some calmer times. Photograph: Julien Behal Photography
Cliff Taylor: The economic picture could get very messy – and fast

War, inflation, wage pressures, the pension age – a prolonged catfight is on the cards

The biggest uncertainty surrounds the cost of energy and its trickle-down effects. Photograph: iStock.
War and the Irish economy: Prepare for a long economic squeeze

Smart Money: Cumulative impact of Covid and the Ukraine conflict is taking its toll

The long-term interest rate on Irish government debt has risen sharply to its highest level in more than six years as international bond markets faced a heavy sell-off
Long-term interest rate on Irish government debt rises sharply

Rising inflation and concern about further sanctions sees heavy sell-off on international bond markets

To give the OECD implementation process momentum, early progress in the US was required. Now this hasn’t happened, the process is in doubt.
Cliff Taylor: Is the OECD’s global tax deal slowly unravelling?

Uncertainty over US ability to deliver either on global minimum tax rate or digital sales tax rules

Letters were sent from Gazprom – the Russian state gas company – to customers on Friday, outlining the new payment demands. Photograph: Igor Golovniov/SOPA Images/LightRocket via Getty Images
Unpredictable energy crisis hangs over the economic outlook

Any interruption to industry would rack up serious economic damage very quickly

Esri calculates that inflation will hit poorer households, older households and those in rural areas, hardest. Graphic: Paul Scott/Irish Times
Soaring cost-of-living will hit some worse than others

Smart Money: while average incomes will rise this year price hikes will outstrip them

Exports leaving Dublin Port. Photograph: Artur Widak/NurPhoto via Getty Images
UK considers fresh delay to full checks on agricultural products entering from EU

Extension could be ‘good news for Irish food exporters’ as post-Brexit leeway continues

US president Joe Biden: his plan faces a tough passage through Congress. Photograph: Samuel Corum/Bloomberg
Irish corporate tax regime faces new threat from Biden budget proposals

Draft plan floats new minimum tax rate of 20% on US companies’ overseas earnings

Ukrainian ambassador to Ireland Larysa Gerasko with a group of Ukrainian refugees who arrived to Ireland over the weekend at County Hall, Swords. Photograph: Colin Keegan/Collins Dublin
Cliff Taylor: Ireland needs to think about Ukrainians being here long term

Budget will require adjustment to cater for housing and other costs following influx

There is nothing unusual about having more than two income tax rates – Ireland had three up to 1922 and in the 1970s there were as many as six.
Cliff Taylor: Who would benefit from a new 30 per cent tax rate?

Smart Money: It may go the way of previous promises to abolish USC

The background music is a big cost-of-living crisis, spreading well beyond energy now. Photograph: iStock
War in Ukraine exacerbates Irish economic problems lurking in the background

Everyone agreed with what needed to be done during Covid – but this consensus is already shattered

Talking to accountants, lawyers and recruiters the same phrase comes up again and again about the current state of the market to attract and retain staff – the “perfect storm.”
Cliff Taylor: A ‘perfect storm’ creates labour shortages in accountancy and law

Smart Money: Firms struggle to find staff to service a booming market

Gas storage tanks. Wholesale prices were on the rise before Russia invaded Ukraine and have now spiked higher.
Why are Irish gas and electricity prices going up?

Cliff Taylor: Ukraine war has intensified existing pressures – and further price rises may lie ahead

Bindoo wind farm in Co Cavan. Wind energy has enormous potential not only to supply Ireland, but also to export energy. Photograph: Getty Images/iStockphoto
Cliff Taylor: Energy security now central to economic planning

Getting it right requires facing up to trade-offs to deliver long-term projects

Ibec chief executive Danny McCoy: ‘Firms and jobs will be lost if Government doesn’t do more to address this energy crisis.’ Photograph: Alan Betson
Firms and jobs will be lost without help on energy costs, Ibec says

Business lobby group writes to Taoiseach asking for urgent assistance for firms

Ministers have underlined repeatedly that the Government cannot insulate consumers and businesses from what is happening. Photograph: iStock
Covid hit some incomes, this crisis will hit everyone’s

The inflation rate could approach 9 per cent, with a big shock to the cost of living

In the immediate aftermath of the outbreak of the war, interest rate markets swung dramatically. Image: iStock
Has the ECB now paved the way for higher interest rates?

Smart Money: Ukraine war has pushed up inflation and central banks are under pressure to act

The Government has reacted to rising energy prices via a reduction in excise duty on petrol and diesel. Photograph: AG News/Alamy Live News
The Irish Times view on energy security: Old questions, a new urgency

Just as worst of Covid-19 appeared to be passing, economic outlook upended again

Minister for Housing Darragh O’Brien: ‘It is likely that these powers may have to be availed of again.’ File photograph: The Irish Times
Emergency powers may be used to house Ukrainian refugees

Measures last used during pandemic to build temporary hospitals and testing centres

European governments, including Ireland, are to discuss the response to the energy crisis at a meeting of European Union leaders later this week
Consumers and businesses face soaring energy prices

ESB says wholesale gas prices it pays have risen 16-fold over past year

Germany has halted the permit process for Nord Stream 2, the undersea gas pipeline carrying gas from Russia. Germany depends on Russian gas for much of its energy needs. Photograph: John Macdougall/AFP via Getty Images
Cliff Taylor: Boycotting Russian gas may be necessary in the economic war

Move would send prices sky-rocketing and leave Europe scrambling for supplies

Petrol prices, now generally around €1.80 to €1.85 a litre, will break through the €2 barrier if wholesale prices hold at or near current levels. Photograph: iStock
Risk of a big economic shock from Ukraine war is rising fast

Smart Money: Surging prices for oil, gas and food threaten a big jump in inflation

The Russian economy is heading for a long-term hit as sanctions take effect.
Cliff Taylor: What is happening as the latest sanctions on Russia bite?

Explainer: The rouble collapses as Russia faces a damaging financial squeeze

Ireland, which has only one working wind farm – at Arklow Bank – plans to derive 80 per cent of its power from renewables by 2030. Photograph: David O’Brien
Germany signals interest in Ireland’s wind energy infrastructure

Green hydrogen would be exported to supply German industrial sector

A second giant gas pipeline from Russia to Germany, Nord Stream 2, now looks unlikely to ever operate. Photograph: iStock
Cliff Taylor: Will the EU now start to move away from Russian gas?

Ukraine crisis raises new questions about energy security and the move to clean energy

Consumers and businesses face an energy shock in the wake of the Russian invasion of Ukraine. Photograph: Getty
Cliff Taylor: Another wave of economic uncertainty has hit

Cost of living squeeze to tighten as energy prices head higher

Employment in the ICT sector, including many of the big digital service multinationals and some high-tech manufacturers, has risen by 39,400, or more than 30 per cent ahead of pre-pandemic levels. Photograph: Cyril Byrne
Cliff Taylor: Ireland now in the grip of an unexpected jobs boom

Key political challenge will be to use fruits of recovery wisely and effectively

Will the price of Irish houses just keep on rising?

Cliff Taylor: key policy challenge is to provide a supply of homes at more affordable prices

The State’s immediate job is to protect the vulnerable and less well-off, not put enough money in all our bank accounts to compensate for higher prices. Photograph: Dara Mac Dónaill
Cliff Taylor: Why is the State giving €200 to people with bulging bank accounts?

Idea State can protect us all from inflation is dangerous fallacy

Traffic on the M50 Dublin. Prices have increased sharply in transport, driven by the impact of higher energy costs on petrol and diesel. Photograph: Dara Mac Dónaill
How does inflation in Ireland compare with other EU countries?

Explainer: State outpaces European counterparts on rent and transport rises

How far and how fast could rates rise? Image: iStock
Interest rates are heading up – here are five things you need to know

Smart Money: From mortgages, to the markets and the State finances, change is coming

More than one quarter of the income of the lowest 20 per cent went on food, compared to 16 per cent for the highest income group. Photograph: iStock
Surge in inflation hits lower-income households and older people hardest

Central Bank research based on spending patterns of different households from CSO data

The impact of inflation on a household depends on two things: the level of income and the spending pattern. Photograph: iStock
Cliff Taylor: The challenges in dealing with the rising cost of living

Analysis: Every house has own inflation rate, presenting difficulty in addressing price surge

Ireland’s population is getting older and people are living longer, so we need to either find new ways to pay for the State pension or accept that pensioners will get less. Photograph: iStock
Cliff Taylor: Young people being fleeced on housing. Let's not do the same on pensions

It now looks like they will be stuck with the cost of baby-boomer pensions

The European Central Bank is due to stop additional purchases of bonds under its pandemic support programme at the end of March. Photographer: Alex Kraus/Bloomberg
Irish bond prices fall amid international sell-off

Falls sparked by signs central banks may hike interest rates more quickly than expected

An ageing population, with fewer people working compared to those retiring, and increasing longevity are pushing up the pension bill. Photograph: iStock
What does the row about the State pension age mean for your finances?

Smart Money: There is a lot more is at stake than when you might retire

The gender pay gap at professional firms likely distorted by earnings differentials at partner level. Photograph: Getty Images
Partners drive gender pay divide to over 30% at Deloitte

Firm cuts pay gap for staff but men still dominate among long-serving partners

Both political and economic factors are pointing to energy prices staying high, with or without a Russian move on Ukraine. Photograph: iStock
Cliff Taylor: Your energy bills are now only heading one way – higher

Energy supplies may be held hostage in Ukraine crisis with impact on prices across Europe

Pandemic restrictions are ending but what will this mean for working from home? Photograph: iStock
Remote working: just what will it look like after the pandemic?

Smart Money: The sector you work in will be a vital determinant of what is on offer

There is a record €135bn or so sitting in household spending accounts. Photograph: Nick Bradshaw
Irish economy set to take off as easing of restrictions triggers a spending surge

Uncertainties remain but one thing we do know is a mini consumer boom is coming

Ibec estimates that 60,000 additional employees could be needed across the economy each year to 2025, which gives employees significant power in the jobs market. Photograph: iStock
How much will your wage package increase this year?

Smart Money: businesses report a tightness in the jobs market not seen for years

Reopening economies have pushed up energy prices, where supply problems – notably in the gas market – have also been a big facto Photograph: iStock
Inflation is back with a bang but how long will it stick around?

Cliff Taylor: There are several reasons to be nervous about the outlook

Investors: are you ready for 2022? Photograph: Justin Lane/EPA
Why 2022 will be a year of living dangerously for investors

Smart Money: inflation is rising and the interest rate cycle is turning

Henry Street during lockdown: The more people work from home rather than returning to city centre offices, the more small city-centre enterprises will close. Photograph: Laura Hutton
Cliff Taylor: Time to plan for implications of working from home

Pandemic labour trends may boost living standards, output and balanced development

Shoppers on Grafton Street. What is in store for the Irish economy in 2022? . Photograph: Clodagh Kilcoyne
Cliff Taylor: 15 key economic issues to watch out for in 2022

Smart Money: The only real certainty is uncertainty as we continue to grapple with the pandemic

Imports from Britain to Ireland have fallen sharply, exports from Ireland to Britain have held up and cross-Border trade has increased significantly. Photograph: Sasko Lazarov/RollingNews.ie
Cliff Taylor: Brexit strictures neatly navigated by Republic to date

Trade flow changes likely long-lasting and deep with article 16 threat constantly in air

Temple Bar staff member Caoimhe Everard looks out the window after closing early on December 20th. Photograph: Charles McQuillan/Getty
Cliff Taylor: How to plan for another year of Covid-19 uncertainty

Building long-term flexibility in the health system and business supports will be vital

Minister for Finance, Paschal Donohoe and Minister for Public Expenditure and Reform, Michael McGrath took no risks with with the budget forecasts for this year, salting significant sums away to meet contingencies. Photograph: Dara MacDonaill
Economy 2021: A landmark year but enormous uncertainty still prevails

Potential wide and rapid transmission of Omicron adds a significant short-term risk

IDA Ireland chief executive Martin Shanahan presides over an agency with an extraordinary record of attracting investment. Photograph: Dara MacDónaill
Cliff Taylor: Time for the IDA to spread its success North

We could have an all-Ireland offering if it shared its secrets of how to attract FDI

Minister for Finance Paschal Donohoe. Photograph: Alan Betson
Ireland to support French EU presidency on 15% corporate tax rate

KPMG tax partner says Paschal Donohoe may be able to limit effect on Irish businesses

Among the companies likely to be affected would be Musgraves, Dunnes Stores, Eir and several other big retailers and consumer firms. Photograph: Alan Betson/The Irish Times
Big Irish firms to face 15% corporate tax under EU proposals

Coalition had indicated intention to retain existing 12.5% rate for such companies

US president Joe Biden’s domestic agenda is in trouble. Photograph: Stefani Reynolds/NYT
Question mark over OECD global tax rate as Biden agenda falters

It is in Ireland’s interests for 15 per cent levy to apply in US as well

‘Giving €100 to every household is handing a lot of cash to people who don’t need it.’ Photograph: iStock
Cliff Taylor: Electricity rebate is bad politics and bad policy

What is the Government thinking of with such a messy and out of step measure?

Is the era of interest rate rises dawning?
Cliff Taylor: The interest rate cycle has turned – what happens now?

Smart Money: Variable mortgage rates could increase and trackers could be affected as well

Lorries at Holyhead port in Wales. The checks due to come in on January 1st are designed to bring post-Brexit customs arrangements between the UK and EU into line with those with the rest of the world. Photograph: Paul Ellis/AFP via Getty Images
Irish exporters get reprieve as post-Brexit checks on goods delayed

Varadkar welcomes extension while EU-UK talks on Northern Ireland protocol continue

Businesses relying on supports face a ‘moment of risk’ next year as they are wound down, says Minister for Finance Paschal Donohoe. Photograph: Alan Betson
Cliff Taylor: Winding down Covid economic subsidies will be a treacherous task

Once a Government support is introduced, doing away with it is never easy

A growing number of first-time buyers find themselves in the “squeezed-out middle” – earning too much to qualify for social housing, but not enough to survive in the open market. Photograph: Chris Ratcliffe/Bloomberg
Housing squeeze not going away for buyers, and could get worse for renters

Smart Money: New forecasts show particular affordability problems for renters in coming years

We have been looking at a K-shaped recovery, with much of the economy heading upwards while the worst-affected sectors suffer. Photograph: iStock
Cliff Taylor: Pandemic boom gives Ireland precious room for manoeuvre

Economic rebound gives Government scope to deal with persistent Covid uncertainty

Irish housing wealth, at €587 billion, is approaching the Celtic Tiger highs. Photograph: iStock
Irish families’ wealth is surging, helped by house prices

Smart Money: Household wealth on track to exceed €1tn next year

Can we actually develop a plan to live with Covid or are we destined to be thrown from one wave to the next? Photograph: Getty Images
Cliff Taylor: Can the Irish economy cope with another variant?

How to support the hardest hit sectors will be a big issue if the new variant does bring more serious problems

Staff in the Covid emergency department of St Vincent’s Hospital during the Covid-19 pandemic. File photograph: Alan Betson/ The Irish Times
Why have years of high spending left Ireland still short of ICU beds?

Smart Money: Impact of high-cost Ireland and planning problems have all played their part

Pension tax relief is offered at 20 per cent or 40 per cent, depending on earnings, while the State-top-up wold be equivalent to tax relief of 25 per cent.
SSIA-style State pension top-up under consideration for auto-enrolment scheme

Large numbers of people rely solely on State pension for retirement income

If supports are cut off too quickly, some viable businesses could be pushed into insolvency. Photograph: iStock
Spike in company failures ‘could persist for some time’ as pandemic supports removed

Government faces delicate task of phasing out payments while protecting viable firms

Anglo Irish Bank went from star turn of the markets to the villain of the piece in just a year and half. Photograph: Matt Kavanagh
Cliff Taylor: Anglo collapse taught us one lesson we can’t ever forget

The interlinked story of Anglo and the financial crash have a vital pointer

How is the EU single market to be protected from goods crossing the Irish Border and coming into the EU via an open back door?
Cliff Taylor: What would be the economic impact of the UK triggering Article 16?

Smart Money: The risk is the free-trade agreement negotiated so painstakingly could fall apart

With just €1.3 billion allocated up to 2025 for retrofitting support for private households in the National Development Plan, billions in extra State cash is going to be needed in the years ahead
Cliff Taylor: Who will pay the massive bill for climate transition?

The Climate Action Plan makes no specific commitment of additional State spending but make no mistake, more cash will be needed

The targets for electric vehicle use and home retrofitting involve significant cost and adjustments by households, as well as longer term benefits. Photograph: Alan Betson
Costs for climate transition in new action plan are enormous

There is still much to do on how to make the essential cuts and how to pay for it all

A changing picture on interest rates has implications for personal finances which go way beyond mortgage repayments and returns on savings. Image: iStock
Is the era of super-low interest rates coming to an end?

Smart Money: The post-Covid bounceback leaves central banks with a dilemma

The study found a broadly north-south income divide in the Republic, with the most prosperous areas south of a line between Galway and Dundalk, while in the North the divide is east-west, with more activity centred around Belfast.Photograph: iStock
NESC report reveals uneven economic performance on island of Ireland

Employment growth for period 2000 to 2018 in the Republic is roughly double the rate of North

Climate change: Choose to put less of the burden on agriculture and you end up putting more on the energy sector, transport and transitions by households and businesses. Photograph: Jeff J Mitchell/Getty
Cliff Taylor: Rural and urban Ireland will fight over who pays the price in climate debate

Targets and trade-offs will prompt finger-pointing by all affected sectors

The push to get people to cycle and walk more and drive less in their daily lives is set to continue. Photograph: Finbarr O’Reilly/Getty Images
Ireland reaches its carbon crunch moment

Agenda: New proposals will bring binding targets – and there will be winners and losers

Many aspects of people’s day-to-day lives will be affected by the anticipated changes
Carbon cuts will mean major changes to the way we live

The latest report on Ireland’s climate challenge points to big changes for households

If the Government targets transport, this could require a scrappage scheme for up to 800,000 old diesel and petrol vehicles to be replaced by electric vehicles.
Fundamental economic changes needed to meet new carbon goals

New targets have big implications for households, businesses and the State

Cliff Taylor: If there were bouncers in your workplace checking vaccine certs, a much fuller return would be possible. Photograph: Nick Bradshaw
Cliff Taylor: New delays in reopening offices mean there is no going back to the old ways

Change has now been embedded long past a tipping point

The provision of recharging points have improved, but is it enough?
Cliff Taylor: Stick and carrot – what the move to electric cars will mean for your pocket

Smart Money: Move away from supporting plug-in hybrid grants a key signal

British prime minister Boris Johnson. The speculation is that the UK would either abandon some or all checks on goods entering Northern Ireland if it invoked article 16. Photograph: Jessica Taylor/EPA
Is Britain now pushing for a post-Brexit border in the Celtic Sea?

If so, Ireland would risk being seen as less than a full member of the EU single market

In trying to keep the public finances on a safe track, while nodding to the political agenda by introducing chunky spending increases, did the Ministers get it right?
Cliff Taylor: Did the Ministers get it right with Budget 2022? Five key takeaways . . .

Resolving problems in housing, health and childcare may yet revive Coalition’s fortunes

Minister for Finance Paschal Donohoe delivers the budget. Photograph Nick Bradshaw/The Irish Times
The trouble ahead after Budget 2022

Surge in tax revenue transforms outlook for public finances – but big questions lie ahead

Minister for Finance Paschal Donohoe and Minister for Public Expenditure Michael McGrath at the Department of Finance on Monday. Photograph: Nick Bradshaw
Budget 2022: Welfare payments including fuel allowance to increase by €5 in budget

Christmas bonus to be paid in full as part of €4.7 billion package

Minister for Finance Paschal Donohoe and Minister for Public Expenditure Michael McGrath have been trying to perform the traditional pre-Budget two-step, telling the public that the economy is strong, but trying to persuade their ministerial colleagues that there is no extra cash to spend. Photograph: Crispin Rodwell
Back in business: How real is the economic bounceback?

A surprisingly strong economic rebound brings with it inflation, wage and cost pressures

Finance Minister Paschal Donohoe wasn’t playing with a particularly strong hand – everyone knew Ireland would have to get on board eventually and political pressure has been fierce. Photograph: Patrick Bolger/Bloomberg
Cliff Taylor: The week when the Irish economy dodged a bullet

Having signed up for the OECD deal, Ireland now needs to see it done

Paschal Donohoe has said he intends to stick to the plans already outlined for Budget 2022 in terms of extra spending and lower taxes. Photograph: AFP via Getty
Surging growth transforms public finances ahead of Budget Day

Pre-budget White Paper shows dramatically improved budgetary picture

Many developing countries say their interests have been sidelined and Oxfam calls the agreement “a rich country stitch-up”. Photograph: iStock
OECD hails global tax deal to deliver 15% minimum corporate rate

Plan ‘provides certainty’ needed for State to sign up, Paschal Donohoe says

The European Commission’s willingness to approve a 12.5 per cent rate for companies under the OECD limit is a surprise. Photograph: Getty Images
Corporate tax: Economic impact unclear but dangers have eased

Outcome shows Paschal Donohoe correct to hold off on draft terms of OECD deal

The playing pitch for attracting foreign direct investment is changing and tax will not be as important a tool in future. Image: iStock
What will the OECD corporate tax deal mean for the Republic?

Inward investment in addition to public finances will be firmly in the spotlight

Paschal Donohoe has been seeking assurances from the European Commission that it will not seek to impose a higher rate than 15 per cent when the OECD deal is translated into EU law. Photograph: Nick Bradshaw
Government gets clearance to keep 12.5% tax rate for most companies

New 15% rate to apply only to businesses with turnover above €750m

Minister for Finance, Paschal Donohoe said it is the ‘right decision’, ‘made in the interests of our country’. Photograph Nick Bradshaw for The Irish Times
Ireland’s corporate tax rate set to rise to 15%, as part of global deal

Firms making less than €750m a year will be taxed at previous rate of 12.5%

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