Out of Office: Spending up and corporate tax down

Welcome to the Business Post’s Out of Office, your round-up of the day’s business, tech, markets, legal and politics news.

It’s the economy, stupid. The post-Easter lull came to an end today, with a flurry of significant reports about the health of the state coffers.

The most significant came from the Department of Finance, which reported that spending was up in the first quarter, but corporation tax was down. Not to fear though, as this was offset by strong Vat and and income tax receipts.

Earlier, it emerged that government capital spending was predicted to grow to a record €43 billion over the next three years. And the National Competitiveness and Productivity Council (NCC) said Ireland’s economy deserves to be 10 places higher in global innovation rankings.

Eoin O’Hare also examined whether the ECB will finally climb down on interest rates at a key meeting next week.

Meanwhile, Simon Harris continued his efforts to build support ahead of a crucial taoiseach vote in the Dáil next week. He secured the backing of four Independent TDs in his bid to firm up a majority. He also reassured businesses that he would take “concrete steps” to address their concerns about rising costs.

In Dublin, Richard Shakespeare, the recently appointed head of the city council, was also raising concerns. It turns out he’s not too happy with plans to allows pubs and clubs to open later. It came as Ray O’Donoghue, the director of Sea Sessions music festival, was appointed as the capital’s first night time economy tsar.

And finally, the social media pages of Supermac’s was suspended after the GAA made a trademark complaint about an April Fool’s Day joke posted on its social media pages.

News in brief

* Cork-based Hatch closes €75m fund with ISIF participation

* Gwyneth Paltrow’s Goop faces ‘Reverse Confusion’ suit

* Cork-based Hatch closes €75m fund with ISIF participation

* Unemployment rises slightly to 4.3 per cent, with women more likely than men to be out of work - CSO

* Over 2.6m passengers travelled through Dublin Airport last month

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