Budget lobbying heats up as Ibec calls for infrastructure investment

Business lobby group Ibec says Ireland’s infrastructural challenge will not be solved by “diluting resources with widespread handouts”, in a thinly veiled criticism of Government budgetary policy of putting as much money as possible in people’s pockets over investing in the future of the economy. Eoin Burke-Kennedy reports.
Sticking with the budget, builders say that Government should cut VAT on new homes, tackle water supply shortfalls and boost planners’ resources. The Construction Industry Federation says in a submission to Jack Chambers, Minister for Finance, in advance of his first budget in October that the Republic needs 50,000 new homes a year to house its growing population, writes Barry O’Halloran.
On a lighter note, Virgin Media Television will launch a “new and improved” app called Virgin Media Play in September as it bids to further reposition itself for the age of streaming. Laura Slattery writes that the new app was unveiled alongside the broadcaster’s autumn schedule line-up.
Further afield, Ireland’s dairy industry – the biggest exporter among EU states to China – faces unsettling times as China examines subsidies to European cheese, milk and cream sectors in what is being perceived as retaliation for Europe’s decision to impose tariffs on electric vehicles coming from that country.
Having raised premiums by 7 per cent earlier this year, the State-owned health insurance company VHI has announced a second price increase, which will see the cost of premiums rise by a further 3.5 per cent on average across its portfolio of health insurance plans. Ian Curran reports.
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As the supply of second-hand properties for sale in Ireland falls by almost a third since the pandemic and prices continue to rise, according to Sherry Fitz figures, Ciarán Hancock picks through the latest data points with Marian Finnegan, managing director of Sherry FitzGerald, and Eoin Burke Kennedy, economics correspondent with The Irish Times on this episode of Inside Business.
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