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Ireland is expected to have the fastest growth in the EU in 2014

According to the 2014 Autumn Economic forecast published today, Ireland is expected to have the fastest growth in the EU in 2014 with real GDP growth forecast at 4.6%. The forecast for real GDP growth in the EU is 1.3% and 0.8% in the euro area for 2014.

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Residential Property Prices rise by 15% in the year to September

In the year to September, residential property prices at a national level, increased by 15% the CSO reported yesterday. This compares with an increase of 14.9% in August and an increase of 3.6% recorded in the twelve months to September 2013.

In Dublin residential property prices grew by 2.5% in September and were 23.4% higher than a year ago. The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) rose by 1.1% in September compared with a decrease of 0.1% in September of last year.

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Key Points in the Budget 2015

Read the official summaries of the key budget measures and the detailed analysis from leading accountancy firms.

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Government Finance Statistics Report

A report from the Central Statistics Office (CSO) shows at end Q2 2014, Ireland’s Government deficit fell to 3.8% of gross domestic product in the second quarter of 2014 with Government Debt at 116.7% of GDP.

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PMI reports increase in construction activity

The September construction PMI (purchasing managers’ index) shows house-building activity grew at its fastest rate since 2000. The report posted 61.5 in September, broadly unchanged from the reading of 61.4 in August and thereby signalling a further strong rise in activity at Irish construction firms.

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SFA calls for cut in capital gains

The Small Firms Association (SFA) has called for a cut in capital gains tax as part of next week’s Budget. The body said the rate should drop to 10% for entrepreneurs selling businesses, which would bring it in line with Britain’s levy. It also wants the general GCT rate to fall to 20%.

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Ibec predicts GDP growth of 6.1% for this year

Ibec, the group that represents Irish business, today published its new Quarterly Economic Outlook which is forecasting GDP growth to reach 6.1% on the back of a broad-based recovery in the economy, which includes a 1.5% increase in consumer spending, a 14.2% increase in investment and a 12.2% increase in exports this year.

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Spar to open 50 new stores with creation of 1,000 jobs

The BWG group, the owners of SPAR, are to invest €100m in store development over the next five years. The investment will see 50 new stores open around the country between now and 2016 with the creation of approximately 1,000 jobs.

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Dealz to open six more stores in Ireland

UK-listed discount retailer Poundland is planning to open six new Dealz stores in Ireland over the next year. The new openings will bring to 41 the number of shops in the Republic for Dealz, which opened here three years ago.

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Housing Supply Capacity in Dublin’s Urban Settlements 2014-18

A report, which has been commissioned by the Society of Chartered Surveyors Ireland (SCSI), explores the capacity of lands zoned for residential development within the Dublin Region to deliver the requisite housing units for the projected population of the Dublin Region between 2014-2018.