logo
Supply risk identified for some UK animal medicines shipped to North

Supply risk identified for some UK animal medicines shipped to North

Irish Times15 hours ago

Vets, farmers and pet owners in
Northern Ireland
will continue to have post-
Brexit
access to animal medicines from the UK in the 'vast majority of cases', the UK government has said.
However, it warned of a 'risk of disruption' remaining for a small number of critical products.
The comments were contained in a policy paper on Britain's approach to veterinary medicines in Northern Ireland, published by Northern Secretary, Hilary Benn, on Thursday.
From January 1st, 2026, veterinary medicines from Britain distributed in Northern Ireland must comply with EU rules agreed between London and Brussels as part of the
Windsor Framework
.
READ MORE
Concerns had been raised by vets and politicians that up to half the veterinary medicines used in Northern Ireland could become unavailable because firms in Britain would choose to stop supplying them rather than carry out the additional retesting and relabelling required to sell them in the North after the cut-off date.
[
DUP leader: Windsor deal is an opaque mess
Opens in new window
]
The paper said London's current expectation was that there would be 'very limited disruption, with fewer than 20 products due to face discontinuation that we consider are likely to result in significant adverse impacts if not addressed.'
It announced two schemes which it said would provide additional resilience and 'plug any emerging critical gaps' by allowing vets to continue to access medicines from Britain.
The UK government said these were within the scope of the Windsor Framework so did not require negotiation with, or approval from, the EU. It is understood the bloc is aware of, and comfortable with, the move.
From January 1st, the Veterinary Medicines Health Situation Scheme will 'permit the use of suitable alternative products from outside Northern Ireland' by professionals without any additional red tape 'if the situation of animal or public health so requires'.
A separate Veterinary Medicines Internal Market Scheme will allow vets use specific individual medicines not authorised or available in Northern Ireland when needed, again without any additional administrative burden or certification.
The UK government also said any veterinary medicines already on the market in Northern Ireland can remain so until their expiry date, even if it is after the cut-off from January 1st.
The move was strongly criticised by some unionist parties. DUP MP Carla Lockhart said the 'stark reality' was that the UK government had 'chosen to prioritise placating the EU' over protecting the interests of animals, vets, farmers and the wider agri-food sector in Northern Ireland.
Instead of resolving the problem, she said, London had 'simply issued another paper and acquiesced to EU law that does not deal substantively with the concerns raised by the industry and does not enjoy cross-community consent'.
Traditional Unionist Voice leader, Jim Allister, said that 'instead of standing up for Northern Ireland, the [UK] government has largely rolled over, devoting its energy to encouraging reorientation of our supplies so that they come from the EU, not GB.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

I'm a Vinted pro and here's the prime selling time to ensure you make cash quick – plus the items you should be listing
I'm a Vinted pro and here's the prime selling time to ensure you make cash quick – plus the items you should be listing

The Irish Sun

timean hour ago

  • The Irish Sun

I'm a Vinted pro and here's the prime selling time to ensure you make cash quick – plus the items you should be listing

A VINTED seller has shared her number one tip for quickly and efficiently selling pre-loved clothes. The UK-based mother and Vinted enthusiast Rachael, has made cash with barely any effort involved by flogging second-hand clothing on the online marketplace app. 3 A Vinted seller has shared the best time of the month to add items onto the marketplace app Credit: Tiktok/@rachshops 3 Not only this, but Rachael also got candid on the types of clothes you should be listing if you want to make cash quick Credit: Tiktok/@rachshops 3 So if you've got a loft full of old stuff you want to flog, you'll need to take notes Credit: Alamy If her daughter's clothes no longer fit, she logs onto the app and makes a profit from them, instead of leaving good quality items hanging in a wardrobe. But now, Rachael has revealed the key to selling fast on the marketplace app - and it's all in the timing. According to Rachael, there's a 'prime selling time' that will ensure you get rid of unwanted items and make cash fast. Not only this, but the brunette also shared which items you should actually be Read more Vinted stories So if you're eager to make money fast and have a wardrobe full of clothes you never wear, you've come to the right place and will need to take notes. Posting on social media, Rachael explained that listing items towards the end of the month when most people are getting paid could mean they get snapped up quickly. Rachael shared her "most popular" Vinted selling tip, which she claimed is 'part of a strategy.' Holding up a tub of spring and summer clothes, Rachael said she planned to list them all on Most read in Fabulous 'Believe me, this is prime selling time, so I always make sure I list around these days at the end of each month.' Rachael acknowledged that as most people get paid around that time, they have the cash to spend, as she added: 'And they will be spending it on I made £185 in less than 24 hours on Vinted thanks to a pricing trick that hooks sellers without having to send offers The Rachael stressed the importance of uploading clothes that are seasonal in order to maximise sales, as she continued: 'Always think about that when you're listing stuff - make sure it's relative to the time of year and what people are actually looking to buy.' This is prime selling time, so I always make sure I list around these days at the end of each month Rachael Rachael also explained that having suitable mailing bags on hand saves both time and money, whilst preventing you from rushing around at the last minute. She advised: 'The thing I would highly recommend you do if you are a The Vinted enthusiast claims that having mailing bags to hand 'saves stress' of knowing what to package items in. Meanwhile, Rachael urged sellers to post their items quickly, for the simple reason that you'll 'get your money' faster as a result. New Vinted rules to be aware of IF you fancy clearing out your wardrobe and getting rid of your old stuff on Vinted, you'll need to consider the new rules that recently came into play. If people are selling personal items for less than they paid new (which is generally the case for second-hand sales), there is no impact on tax. However, since January 1, digital platforms, including eBay, Airbnb, Etsy, Amazon and Vinted, must share seller information with HMRC as part of a crackdown. You're unlikely to be affected if you only sell a handful of second-hand items online each year - generally, only business sellers trading for profit might need to pay tax. A tax-free allowance of £1,000 has been in place since 2017 for business sellers trading for profit - the only time that an individual personal item might be taxable is if it sells for more than £6,000 and there is a profit from the sale. However, firms now have to pass on your data to HMRC if you sell 30 or more items a year or earn over £1,700. It is part of a wider tax crackdown to help ensure that those who boost their income via side hustles pay up what they owe. While your data won't be shared with HMRC if you earn between £1,000 and £1,700, you'll still need to pay tax as normal. Not only this, but she claimed that this will also help towards 'positive feedback and good reviews' too. The TikTok clip, which was posted under the username @ Meanwhile, one person took to the comments to share their Vinted advice, as they wrote: 'Upload at school pick up time. Mums scrolling in their car.' To this, Rachael responded and penned: 'That's a good idea, thanks for sharing.' Unlock even more award-winning articles as The Sun launches brand new membership programme - Sun Club

The Central Bank's hard-landing scenario: corporate tax crashes, budget deficit balloons to €18bn
The Central Bank's hard-landing scenario: corporate tax crashes, budget deficit balloons to €18bn

Irish Times

time3 hours ago

  • Irish Times

The Central Bank's hard-landing scenario: corporate tax crashes, budget deficit balloons to €18bn

For obvious reasons, officials in Ireland can't use the term 'soft landing'. It was trotted out so regularly, so erroneously in the late 2000s when the economy was hurtling towards the hardest of hard landings that it has become synonymous with the opposite. If the Central Bank told us the Irish economy was in for a 'soft landing' from the current US tariff debacle, people would panic. Perhaps in reaction to the misplaced optimism of the Celtic Tiger era, we now seem to have an inherent bias towards highlighting negative scenarios. READ MORE [ US tariffs could punch €18bn hole in public finances, Central Bank warns Opens in new window ] We were certainly prepared for a bigger assault from Brexit than the one we actually got. Some call it 'catastrophising', but regulators should take a sober view on things. In an article published alongside its latest quarterly bulletin, the Central Bank lays out three possible scenarios for how US tariffs and greater US protectionism might impact the economy here. In its baseline scenario, which involves 20 per cent tariffs on European Union goods going into the US from the third quarter of this year, with pharmaceuticals and semiconductors exempt, the economy grows by 2 per cent this year, in terms of modified domestic demand, and 2.1 per cent on average in 2026 and 2027, while the State continues to run a budget surplus out to 2030. Even if it won't say it, this is the regulator's 'soft landing' scenario. In a more adverse scenario with pharmaceuticals and semiconductors getting hit by 20 per cent tariffs and with the EU retaliating with 20 per cent tariffs of its own, growth is slower and the budget surplus shrinks to less than 1 per cent. But what grabbed the headlines was the Central Bank 'extreme scenario' which involves the State losing the entire windfall element of its corporate tax base, which is due to peak at €17 billion in 2026, alongside a 20 per cent reduction in multinational investment 'and a corresponding loss of export market share'. [ Rent pressure zone changes will be 'painful' for tenants, Central Bank warns Opens in new window ] This scenario would see the Government's healthy budget surplus – it was €8.9 billion last year – flip to a budget deficit of more than 4 per cent of national income by 2030, equivalent to €17.7 billion. While there are lots of caveats – the scenario assumes the Government takes no corrective action and continues to make contributions to the two long-term savings funds – such an outcome would pitch us back into another period of austerity. It also highlights how much the State's coffers have become intertwined with the financial fortunes of a small number of US multinationals. 'This could be considered a somewhat extreme scenario as it incorporates a loss of all excess CT [corporate tax] by 2030 along with weaker economic activity, but it is illustrative of a key vulnerability for Ireland relating to the future path of the foreign-owned capital stock,' it said. Central Bank director of economics and statistics Robert Kelly denied he was painting too bleak a picture, saying the bank's worst-case scenario did not envisage the possibility of a big multinational firm leaving the jurisdiction because of tariffs or changes to US tax law, which has been the fear since the corporate tax boom started more than a decade ago. The nightmare scenario for Ireland would be for an Apple or an Intel to up sticks and leave. Despite the threat hanging over Ireland's economic model, there are several reasons to believe that corporate tax receipts, which hit a record €28 billion last year (excluding the Apple tax money), will continue to increase in the medium term. For one, the biggest corporate taxpayers here are in the tech and pharmaceutical sectors, both at present exempt from US tariffs. The Irish Fiscal Advisory Council (IFAC) also expects receipts from the business tax to rise by about €5 billion from 2026 onwards as additional revenue from the new minimum tax rate of 15 per cent over and above the State's headline rate of 12.5 per cent flows into the Exchequer. Big multinationals with a turnover above €750 million have been liable to pay the higher rate since 2024, but are not due to make their initial payments under the new rate until the middle of next year. This is expected to boost tax receipts here by an additional €3 billion next year and €2 billion in 2027. Despite the US signalling its intention to withdraw from the Organisation for Economic Co-operation and Development (OECD) -brokered deal to establish a minimum global rate, tax authorities here and elsewhere are pushing ahead with it. Several big taxpayers here have been availing of generous tax-cutting capital allowances which are due to run out, meaning they will be liable to pay more tax – another factor likely to drive receipts. Some of the frothier predictions suggest corporate tax receipts here could grow to €40 billion and say we should be saving a lot more than the current allocations to the State's savings funds. The windfall has also coincided with a worrying increase in Government spending, over and above what IFAC deems sustainable. It might be that the bigger threats facing the Irish economy are coming from within – housing, government spending, energy security, the high cost of doing business – rather than those emanating from abroad.

Median value of homes bought by first-time buyers has risen to nearly €372,000
Median value of homes bought by first-time buyers has risen to nearly €372,000

Irish Times

time3 hours ago

  • Irish Times

Median value of homes bought by first-time buyers has risen to nearly €372,000

The median first-time buyer property value rose by more than €100,000 between 2019 and 2024 to almost €372,000, data shows. The latest Mortgage Market Profile Report from lobby group Banking & Payments Federation Ireland (BPFI) shows a big increase in first-time buyer property and mortgage values and a rise in mortgage repayments. The report, which covers the second half of last year and includes a comparison between 2019 and 2024, showed the median first-time buyer property value rose 37 per cent. It also said one in three first-time buyer homes exceeded values of €400,000 last year, three times the 2019 share. READ MORE It also showed that the median first-time buyer mortgage value increased by €78,000, or 36 per cent, between 2019 and 2024 to almost €294,000. [ Irish house price inflation at 7.5% in April as supply shortages bite Opens in new window ] Over the period, the share of higher-value first-time buyer mortgages, classed as being above €300,000, more than doubled to 44 per cent. The share of lower-value mortgages, classed as being up to €200,000, more than halved to 21 per cent. Meanwhile, median first-time buyer monthly mortgage repayments jumped by 48 per cent to €1,400 last year, up almost €500 on median repayments in 2019. This comes as the median basic household income for first-time buyers increased by 22 per cent from €70,000 in 2019 to €85,000 last year. The median mover income increased 23 per cent to €120,000, up €22,000 over the period. More than half (56 per cent) of first-time buyer mortgages in 2019 had repayments up to €1,000, but this dropped to 19 per cent in 2024. Meanwhile, 58 per cent of mover mortgages had repayments over €1,500 last year, up from 33 per cent five years earlier. BPFI chief executive Brian Hayes said the home mortgage market in Ireland had 'changed significantly in the past five years, as buyers shift to higher value properties'. 'While the share of first-time buyer properties valued at over €400,000 in 2024 trebled since 2019 to 36 per cent, almost two-thirds of mover properties were valued at over €400,000 in 2024,' he said. Mr Hayes said the increase in property prices and mortgage values have come as the median basic household income for first-time buyers increased by 22 per cent from €70,000 in 2019 to €85,000 last year. The median mover income increased by €22,000, or 23 per cent, over the same period to €120,000. Taking last year, the number of first-time buyer mortgage drawdowns rose by 2.5 per cent year-on-year to 26,242, but the value of first-time buyer drawdowns increased by 8.4 per cent to more than €7.8 billion, the highest value since 2006. Mover purchase or home mover activity declined, with volumes down by 6.3 per cent year-on-year to 9,030, but values rose by 1.9 per cent to almost €3.2 billion. The average first-time buyer and home mover mortgage values both reached their highest levels since the data series began in 2003, at €298,073 and €351,479 respectively. Within the first-time buyer market, the number of mortgages to buy or build new properties increased by 13.4 per cent to 9,755, the highest volume since 2008. While the number of first-time buyer mortgages on existing properties fell by 2.9 per cent to 16,487, the value of those mortgages reached the highest level since the data series began in 2005, at almost €4.7 billion. Mover new mortgage volumes fell by 1.4 per cent year-on-year to 1,972 in 2024, the lowest volume since 2015.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store