This week’s Business Post leads with the formation of a new government that sees Micheál Martin elected Taoiseach and Leo Varadkar taking over as Táinaiste. It says a Covid-19 jobs stimulus plan is one of the top priorities of the new government. The stimulus package will be overseen by Varadkar, in his additional role as Minister for Enterprise, Trade, and Employment. “It will be targeted at the hospitality, tourism and retail sector most hit by Covid-19, with a strong emphasis on the regions,” said a Fine Gael source.
So what else can we expect to see from the new government? Unsurprisingly, green policies are high on the agenda with a new Climate Act to be passed within the next 100 days. The new bill will see €360m a year spent on cycling and pedestrian infrastructure. Transport infrastructure spending meanwhile will be split 2:1 in favour of public transport over roads.
Early investors in Workhuman, formerly known as Globoforce, have made “several hundred times” their money following a share deal announced last week, according to another front-page story. The employee rewards and performance software platform struck a deal to sell a 10% stake in the company for €106m, giving the business a €1.06bn total valuation.
Waterford Whispers, the popular satirical website, is to introduce a paywall according to a report by Aaron Rogan on page seven. Colm Williamson, the founder of the website, said the paywall was necessary after ad revenues dried up during the pandemic. The paywall will be erected in July and it will cost €5 a month to read more than three articles on the site.
As Ireland officially exits lockdown this week there are lots of column inches devoted to looking at how the business owners will navigate the new normal. Pubs, in particular, may have a hard time getting people through the doors after a CSO survey found that one in five people would feel “very uncomfortable” about the idea of going back into a pub. “There is still uncertainty in the air about how comfortable people will be to return to their old ways,” writes Aaron Rogan.
- Nord Anglia International School in Leopardstown lost €5.47m last year
- Freight transport in Ireland will double by 2050 according to the ESRI