Latest news with #ICTU
The Journal
5 days ago
- Business
- The Journal
The Irish Congress of Trade Unions wants the government to move away from corporation tax
THE IRISH CONGRESS of Trade Unions has called on the Government to end the 'over-dependence' on corporation tax receipts ahead of the today's National Economic Dialogue. The National Economic Dialogue is taking place at Dublin Castle this morning. The congress (ICTU), which represents over 800,000 workers across Ireland, said that the country's current economic model is 'unsustainable' and called on the Government to use Budget 2026 to put the economy on a 'firmer footing'. Last week, the Irish Fiscal Advisory Council echoed similar sentiments. Launching its Fiscal Assessment Report, the Council's chair warned of the current volatility of Ireland's longtime reliance on corporation tax as uncertainty arises from mooted tariffs from the US and further trade tensions. The ICTU urged Cabinet to build a new economic model that can deliver 'good jobs, improved living standards, and sustained growth'. Advertisement Its General Secretary Owen Reidy said that the government needs to end its reliance on the 'sugar rush' of corporation tax windfalls and start serious planning for the longer term. Corporation tax is likely to be higher than forecast over the rest of the year, IFAC's latest report found. This has been put down to BEPS reforms that mean groups with a turnover of over €750m will pay a 15% minimum rate of tax in every jurisdiction in which they operate. However, there is further uncertainty regarding the future of multinationals in Ireland. The IFAC has been unable to construct a medium-term forecast due to the department's failure to turn over spending profiles, as well as the government's refusal to commit to a fiscal rule, its chair Seamus Coffey told reporters last week. He said that this highlights that there is no medium-term plan or strategy apparent. Reidy today said that Ireland is facing 'significant wage inequality' alongside 'major infrastructure deficits'. 'Budget 2026 must mark a turning point by giving certainty and security to workers across Ireland. That means good jobs that pay well, a decent standard of living, as well as stronger public services. But it should also mean a shift in our economic model. 'In the coming weeks, the Irish Congress of Trade Unions will be setting out how we believe that can be achieved through a New Economic Model, and today at the National Economic Dialogue we will be bringing that message to Ministers,' he said. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
RTÉ News
5 days ago
- Business
- RTÉ News
Tánaiste to warn of impact of further tariffs
Tánaiste Simon Harris will today warn that the threat of further tariffs represents "the most serious challenge to transatlantic economic relations in generations." In a speech at the National Economic Dialogue at Dublin Castle, Mr Harris will insist that the EU must remain steadfast in pursuing "substantive, calm, measured, and comprehensive dialogue" with the US in order to avoid the imposition of further tariffs. The National Economic Dialogue is an annual event that brings together various stakeholders for consultation and discussion on the upcoming budget. It will be attended by trade unions, business groups, charities, and environmental organisations. The event will be addressed by the Taoiseach, Tánaiste, Minister for Finance, Minister for Public Expenditure, and other members of the Cabinet. In his address to the conference, Minister for Finance Paschal Donohoe will tell delegates that the near-term economic outlook is clouded in uncertainty and that positive headline economic figures so far this year mask considerable vulnerabilities. "Much of the headline balance arises from a handful of large multinationals and, as I mentioned, the mood-music is changing. It is not appropriate – indeed it could be dangerous – to plan on the basis of these receipts being permanent," Mr Donohoe will say. The theme of this year's National Economic Dialogue is 'Medium-term budgetary planning against a rapidly changing global backdrop'. The conference is not intended to produce specific budget proposals or recommendations but rather to assist participants in preparing their own pre-budget submissions. Ahead of the event, the Irish Congress of Trade Unions (ICTU) has warned that Ireland's economic model is unsustainable and has urged the Government to use Budget 2026 to put the economy on a firmer footing. ICTU General Secretary Owen Reidy said the country has been left dangerously exposed to global shocks. "In this era of uncertainty, Government needs to end its reliance on the sugar rush of corporation tax windfalls, and start serious planning for the longer term," Mr Reidy said. "We have an over-reliance on a handful of firms for corporation tax, significant wage inequality, and major infrastructure deficits across housing, healthcare and transport," he added. Speaking ahead of the event, Social Justice Ireland said the country's overall level of taxation will have to rise significantly in the years to come to address current service and infrastructure deficits, and meet the changing needs of a growing and ageing population "Work must begin now on planning for a sustainable tax-take and wise investment of available funds into infrastructure and services to embed resilience," said John McGeady, CEO, Social Justice Ireland.
RTÉ News
03-06-2025
- General
- RTÉ News
Workers to observe nationwide moment of reflection for Gaza
Workers across Ireland are expected to participate in a moment of reflection at lunchtime today amid the going violence in Gaza. The Irish Congress of Trade Unions (ICTU) has asked that at 1:05pm, participating workers mark a moment of respectful reflection, as a simple act of solidarity and remembrance for the loss of life over the past eighteen months. Today is the International UN Day of Innocent Children Victims of Aggression. "As the appalling violence in Gaza continues, our members asked that the trade union movement lead in reflecting on this terrible loss of life," said ICTU General Secretary Owen Reidy. "Since announcing the moment of reflection last week, we have been heartened by the response from the 800,000 union members across the island." "The UN Day of Innocent Children Victims of Aggression provides an opportunity to pause and reflect on these tragic events and their devastating impact on the people of Gaza, particularly the children who have suffered so greatly," Mr Reidy said. Workers who wish to participate are encouraged to observe the moment of reflection respectfully, whether in their workplace, at home, or wherever they may be. ICTU said the moment of reflection is not a work stoppage, and is encouraging participating workers to coordinate with their employers where possible. SIPTU staff and members will stage a solidarity action at 1.05pm, on Butt Bridge in Dublin across from the 'Ceasefire Now' banner on the side of Liberty Hall.
The Journal
14-05-2025
- Business
- The Journal
Denis O'Brien says remote working is a 'load of nonsense' - do you agree?
REMOTE WORK HAS compromised Ireland's work ethic, according to Denis O'Brien. 'This lark of people saying, 'I'll come into the office on Tuesday and Wednesday; otherwise I'm going to be working at home', is a load of nonsense,' the businessman said at the Irish Investor Awards, as reported in The Currency. Advertisement 'I don't employ those kinds of people, and to be honest with you, I never will'. However, Laura Bambrick of the Irish Congress of Trade Unions (ICTU) argued that it should be a 'red flag' for workers if an employer insists on five days in the office. She suggested that this shows disregard for work-life balance. So tell us: Do you think that remote working is a 'load of nonsense'? Poll Results: No (215) Yes (69) Unsure/I have mixed feelings (30) Yes No Unsure/I have mixed feelings Vote
Irish Independent
29-04-2025
- Business
- Irish Independent
New delay to mandatory pension a ‘bitter pill to swallow' for workers
The Irish Congress of Trade Unions said the 811,000 workers would be impacted by the decision of Social Protection Minister Dara Calleary to push the start date from September this year to next January. The scheme has been planned for 20 years now. Minister Calleary said the commencement of the collection of contributions for the scheme, called 'My Future Fund', was being moved to align the new system with the tax year. He said it is also being delayed to give additional time for payroll providers, especially smaller ones, to ready their systems for the launch. Delaying the introduction of the mandatory scheme will also give additional lead-in time for employers, particularly small and micro businesses, to ensure they can be compliant with the legislation from the start, he said. The Irish Congress of Trade Unions (ICTU) said it was disappointed with the latest delay. It said: 'First, this decision must be viewed in the context of Government decisions taken in the past two weeks. 'The promised 10 days sick pay is to be halved to five days, despite evidence from their own business impact assessment not supporting a row-back, the living wage commitment is to be kicked out for three years, and a decision on the Low Pay Commission recommendation to abolish sub-minimum rates for young workers is to be deferred indefinitely.' ICTU said auto-enrolment has been on the cards for a whole 20 years. And businesses and payroll services providers have already had a 15-month lead-in time from the passing of the legislation, when the details of the scheme were known, and the commencement order was signed a full year in advance of the planned September 30, 2025, start date. ADVERTISEMENT 'Delaying bringing an end to our failed voluntary approach to occupational pensions will be a bitter pill to swallow for the 811,000 workers without a workplace pension and facing their income and living standards plummet in retirement,' the trade union body said. A recent survey of pension advisers, undertaken by leading pension trustees, Independent Trustee Company (ITC), found that three in 10 expected the rollout to be delayed again. They expect it to be postponed by at least another two years. Many of them are also calling on the Government to remove the limits on the amounts that can be saved into pensions through auto-enrolment. This would give people a better chance of saving up an adequate pension through the scheme. The survey of 130 pension advisers found that 8pc expect it to be later than 2028 or 'never' by the time auto-enrolment is rolled out. The new scheme is designed to help over 800,000 workers to begin saving for their retirement. All employees not already in an occupational pension scheme, aged between 23-60 and earning over €20,000 across all of their employments, will be automatically enrolled in the new scheme. It will be gradually phased in over a decade, with both employer and employee contributions starting at 1.5pc and increasing every three years by 1.5pc until they eventually reach 6pc by year 10. The State will top up contributions by €1 for every €3 saved by the employee. This is in addition to the €3 that will also be contributed by the employer. Eligible employees will be automatically enrolled but will have the choice after six months participation to opt-out or suspend participation.
