Finance Minister Michael Noonan declared it was “a good year for tax” as new figures show the State taking in €1.1bn more than predicted this year.

However, the minister’s pleasure at a bumper tax take risks raising the hackles of voters ahead of the arrival of water charges.

And it will also put pressure on the Government to provide greater levels of relief to hard-pressed families.

The surge in tax …

Irish services sector activity expanded rapidly again in November, suggesting that the economy will finish the year with solid growth.

The Investec Purchasing Managers’ Index of activity in the services sector, which covers businesses from banks to hotels, inched up to 61.6 from 61.5 in October and was just short of June’s seven-year high.

The index has been above 60 for the past nine months and has not fallen below …

Finance Minister Michael Noonan has signalled that German and UK opposition could hamper plans for a so-called “knowledge development box” announced in the Budget.

The scheme, which would cut taxes for innovative companies, will be implemented as part of next year’s Budget, the minister said, even though the so-called “double Irish” tax loophole it is supposed to replace expires next month.

The knowledge development box would allow companies generous tax …

Leading OECD official says Government decision sent out positive message internationally.

The announcement by Ireland that it is ending the so-called “double Irish” tax structure was perceived as “extremely smart”, a leading official from the Organisation for Economic Cooperation and Development has told a Dublin conference on corporate taxation.

The director of the OECD’s centre for tax policy and administration, Pascal Saint Amans, said Ireland has been an extremely constructive …

The National Asset Management Agency will start paying off the second half of its €30.2 billion debt tomorrow with the repayment of a €1 billion bond. The transaction comes as the “bad bank” backs the €150 million redevelopment of the landmark Boland’s Mill site at the south Dublin docks, the first project to be undertaken within an ambitious new planning scheme for the area.

The objective is to support the …

The Government’s decision to ignore the advice of the Troika and the Fiscal Advisory Council in opting for a less punitive budgetary approach in Budget 2015, “seems to be paying off”, economist Jim Power said on Tuesday. “This gamble was based on stronger economic indicators and it seems to be paying off, to date,” he said, noting that austerity has “passed its sell by date” in Ireland. “Fiscal austerity as …

Euro zone manufacturing growth stalled in November and new orders fell at the fastest pace in 19 months despite heavy price cutting, painting a bleak picture for the coming months, a survey has shown today.

Also worryingly for policymakers at the European Central Bank, who are struggling to bolster growth and drive up low inflation, factory activity declined in Germany, France and Italy.

“The situation in euro area manufacturing is …

Irish manufacturing activity increased for the 18th month in a row in November as exporters saw new orders flood in at the fastest rate in almost four years.

Ireland last year became the first bailed-out euro zone country to exit its international assistance programme. The government is forecasting growth of almost 5pc this year, which would likely make it the best-performing economy in the 18-member bloc.

The Investec Manufacturing Purchasing …

The precise means to be used will only be determined next year in the light of what resources are available, but the working plan will probably be to use a similar approach to the 2015 budget. Politically, this allows the Government to target middle-earners without being seen to deliver too significant gains to those on the highest incomes.

Coming out and selling it now is clearly an effort to move …

Ireland set to repay first tranche of €9 billion to IMF next month.

Money will be paid from cash balances held by the National Treasury Management Agency.

The Government expects to repay €9 billion of the State’s loans with the International Monetary Fund (IMF) in December, in what will be the first instalment of the early repayment of our bailout funds from the Washington DC-based body.

This has been confirmed …