The top stories in Tuesday's papers:
THE IRISH TIMES
- The Irish Times leads with Budget 2017 and a report saying that it will introduce a universal childcare payment. It says all parents with children aged between six months and three years in childcare will be entitled to up to €900 in state subsidies a year.
- Elsewhere on its front page, the paper reports that the Republican Party in the US plunged deeper into crisis after party leader Paul Ryan declared he could no longer defend Donald Trump, just hours after a vicious second presidential debate.
- In a further report on the budget, the newspaper says that the government will commit to reducing Ireland's national debt faster than it is obliged to under European Union rules as part of the budget package.
- In business, the paper reports that Germany's largest public pensions group, Bayerische Versorgungskammer, is the lead bidder for the Liffey Valley shopping centre in west Dublin after tabling an offer of €600 million while sterling fell to a fresh 31-year low against the dollar yesterday.
- The Financial Times also reports that Paul Ryan, the most senior elected Republican in Washington and the Speaker of the House of Representatives, has abandoned Donald Trump in a clear signal that party leaders are giving up hope of winning the White House. The move comes as Hillary Clinton surged to an 11-point lead in the latest opinion poll.
- The President of the European Investment Bank Werner Hoyer told the newspaper that British companies will have difficulties borrowing for infrastructure projects as Brexit draws closer. Companies will have to look elsewhere for funding for schemes ranging from buying trains to putting smart meters in homes to replace an average of €7 billion in lending from the bank in recent years.
- Two professors who are experts on work contracts have won the Nobel prize for economics. Bengt Holmstrom, a Finn who teaches at the Massachusetts Institute of Technology, and Oliver Hart, a Briton based in Harvard University, shared the $925,000 prize for their work on the subject.
- The paper reports that the Irish and British governments are in talks to shift border control points. It says that the Republic could host UK posts to avoid the loss of the common travel area after Brexit and the imposition of a 'hard' border with Northern Ireland.
- The Irish Independent reports that the elderly will win big in a 'grey vote' budget with a €5 increase in the weekly pension set to kick in from next March. It also expects cuts to the universal social charge (USC) for incomes up to €70,000, a 30 cent rise in the excise duty on cigarettes as well as tax breaks for startup businesses in response to Brexit.
- The paper also reports that families are facing double-digit increases in the cost of their health insurance when they renew in coming months with a family of two adults and two children facing a rise of up to €480 on some plans.
- In business, the paper reports that Dublin was the fastest-growing large airport in Europe in August, with passenger numbers rising by nine per cent to just under three million, according to new data from Airports Council International.
- Budget 2017 also provides the lead story for the Irish Examiner with the newspaper saying a €5 pension rise, along with similar increases in other welfare payments, are set to be delayed until March as part of attempts to broker a budget deal between Fine Gael and Fianna Fáil.
- The paper reports that Garda Commissioner Nóirín O'Sullivan is set to be grilled by opposition TDs over the escalating whistleblowers' scandal tomorrow when she attends a pre-arranged meeting with the Dáil's cross-party justice committee.
- The paper also reports on the race for the US presidency, saying one-in-10 Republicans are urging Trump to pull out of the contest.
- In the business section, it reports that Twitter shares tumbled by 12 per cent after potential bidders were said to have lost interest in making offers to buy the company.