Cost of living package for all; Declan Kelly’s return; and rental demand surges

Business Today: the best news, analysis and comment from The Irish Times business desk

Ministers were last night locked in last-minute discussions on the final shape of a cost of living support package that could see the household energy credit rising by up to another €100, write Jennifer Bray and Charlie Taylor. Tánaiste Leo Varadkar said on Wednesday that measures would not be reserved for the unemployed and those on low incomes, because those on higher salaries are also facing difficulties. But there will also be measures that are targeted at lower-income households.

Declan Kelly, the prominent adviser to Fortune 500 chief executives, has made a discreet comeback – just months after he was forced to quit Teneo, the public relations firm he co-founded, following allegations of sexual harassment. The 54-year-old Tipperary native has launched a new advisory company called Consello.

Demand for rental accommodation in Dublin increased by 13 per cent last year, but there was a significant decline in the number of private landlords in the market, new data from property website myhome.ie shows. Colin Gleeson has the details.

Even as the Government worries about the cost of living, homes and businesses will pay about ¤200 million a year to fund new power plants that are due to begin generating electricity in 2024 and 2025, writes Barry O'Halloran. The green light for the gas-fired stations was given last week by regulators looking to head off likely power shortages.

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Ryanair boss Michael O'Leary has overcome the caution that characterised the company's recent trading update. He says the airline has seen a "dramatic recovery" in bookings over the past two weeks and, in a briefing in Milan, said its planes could reach 90 per cent of capacity by the peak of the summer high season.

Also in good form is cardboard box maker Smurfit Kappa, which has overcome rising costs for energy and raw materials, as soaring demand for its packaging pushed earnings ahead of expectations last year. Joe Brennan reports.

On the flip side, foresters say the Government is already rowing back on a pledge to plant 8,000 hectares of new timber this year as the Minister responsible, Pippa Hackett said the department would issue 1,040 planting licences this year. Foresters say this will deliver just 4,000 acres of timber and is unlikely to be met in any case. Barry O'Halloran reports.

The trial of former solicitor Michael Lynn over the alleged theft of €27 million from seven Irish lenders, involving multiple mortgage applications for the same properties has opened, with Mr Lynn denying all 21 charges. It is likely to run for three months.

The Daa is planing a solar farm on a 27-acre site close to Dublin Airport as part of its efforts to switch power supplies for the airport to renewable sources, writes Gordon Deegan.

Karlin Lillington's column looks at incoming measures that intend to pull the plug on fake, and often entirely misleading, online reviews of products and services on which many consumers rely heavily.

And in Cantillon, we look at some of the allegations about high-end rental properties lying vacant, and the reason behind the decision of some of Ireland's highest profile restructuring partners to walk away from their Big Four employers.

Finally, after Safer Internet Day on Tuesday, Ciara O'Brien advises parents on how they can keep their children safe online as new research finds that only a third of youngsters sought help with a difficult situation online.

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Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times