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03/12/2007
Budget Will 'Make Or Break' Housing Market
The Irish Government is again under intense lobbying pressure in advance of this week's 2008 Budget.
This time it is the mortgage brokers who are warning that decisions made in the Budget would make or break the housing market in 2008.
Backing up the claims, research by IIB Bank and the Irish Mortgage Advisors Federation shows that half of brokers are reporting weaker market conditions in recent months.
In fact, four out of 10 surveyed believe a cut in interest rates would help the market, but more than one-third say a boost in confidence in the Irish economy would have the biggest impact.
They say if Minister for Finance Brian Cowen cannot boost confidence in Wednesday's Budget, the market will continue to slide next year.
(BMcC)
This time it is the mortgage brokers who are warning that decisions made in the Budget would make or break the housing market in 2008.
Backing up the claims, research by IIB Bank and the Irish Mortgage Advisors Federation shows that half of brokers are reporting weaker market conditions in recent months.
In fact, four out of 10 surveyed believe a cut in interest rates would help the market, but more than one-third say a boost in confidence in the Irish economy would have the biggest impact.
They say if Minister for Finance Brian Cowen cannot boost confidence in Wednesday's Budget, the market will continue to slide next year.
(BMcC)
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Ireland Loses Highest Credit Score
As next week's 'emergency' Budget looms, the Irish Republic's top 'sovereign' credit rating has been cut. The agency, Standard & Poor's (S&P) downgraded the rating on Government debt by one notch from a AAA rating - which is the highest - to AA+.
Ireland Loses Highest Credit Score
As next week's 'emergency' Budget looms, the Irish Republic's top 'sovereign' credit rating has been cut. The agency, Standard & Poor's (S&P) downgraded the rating on Government debt by one notch from a AAA rating - which is the highest - to AA+.
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Ireland WeatherToday:Cloudy with longer spells of rain during the morning, this rain heavy at times. Generally brighter in the afternoon, but with scattered and at times heavy showers. Maximum temperature 14 °C.Tonight:A mainly dry evening and night with isolated showers dying out and some longer clear spells. Then it will cloud over towards morning with some heavy showers. Minimum temperature 7 °C.
