LESSONS FROM O’BRIEN’S Post-coronavirus predictions ADVERSITY BIG PLAN Gina London, p6 Louise McBride on the Richard Curran on PLUS your Sunday financial lessons history what’s next for Property section can teach us, p5 Digicel, p2 Pages 8-11 SUNDAYSunday InBUdependentSINESS

5 April 2020 Edited by Samantha McCaughren Brogan’s eye is on the ball for life beyond the Blues Banks add Covid-19 income conditions to mortgage offers

Raft of assurances are sought over bonuses, overtime and future job security

Samantha McCaughren The Covid-19 requirements “The check is being carried to our mortgage applications Business Editor vary from bank to bank. out prior to issuing a loan at this point. A new clause in PTSB offer and is a condition which “We continue to provide SEVERAL Irish banks and home loan applications said must be satisfied before draw- guidance to our homes advi- lenders are adding new condi- that the borrower must pro- down.” sors and intermediary part- tions to mortgage loan offers, vide “confirmation from the AIB subsidiary Haven ners to support customers seeking assurances in rela- employer prior to the draw- wrote to brokers early last on their mortgage journey.” tion to job and income risks down that the income for week directing them to ask ICS Mortgages, which is caused by the coronavirus [named borrower], including new and existing applicants: part of Dilosk, wrote to bor- pandemic. variable income — bonus, “Has there been a material rowers to warn that it may The Sunday Independent commission, overtime — is impact in your employment have to reassess applications has seen several documents not affected in any way”. and/or income as a result of which had already been ap- issued by banks in recent PTSB warned: “Please con- Covid-19?” proved. days, outlining additional sider this condition before The email said that some Leading broker Michael loan requirements for new signing contracts as we may cases “for loan offer may re- Dowling, of Dowling Finan- and existing applications. withdraw this offer if it can- quire written confirmation cial, said he was aware of Mortgage brokers said not be fulfilled.” from employers confirming some borrowers who have there was concern that bor- A spokesman for PTSB that applicants’ income is signed contracts and are now rowers could lose their depos- said that there was no change not impacted by the current being asked if their circum- its and face the possibility of for any customer who has Covid-19 circumstances”. stances have changed as a legal action if they could not already received a loan offer However, a spokesman result of Covid-19. proceed with house purchases and signed a contract to buy for AIB said: “We have not late in the process. their home. communicated any changes Continued on page 2

Dublin GAA legend Bernard Brogan may have hung up his boots after the county’s historic five-in-a-row victory last September, but the expert marksman is still on the hunt for success – this time in business. PepTalk – which provides a gamified platform full of team-building content to the now largely dispersed staff of clients – is raising €3m to seize the opportunity the remote working boom has presented across international markets. See full interview, page 4 Councils could face €727m rates plunge

Fearghal O’Connor working weeks for staff and Local Government — which Housing, Planning and Local Deputy Business Editor an immediate curtailment or represents county council- Government “to press the cessation of planned econom- lors — warned that the CCMA case for funding so that local A FINANCIAL analysis of ic development programmes,” analysis showed “the econom- services can be sustained and the impact of Covid-19 on it said. ic position locally could spiral that councils are in a position Ireland’s local authorities The report — prepared negatively out of control”. to support the recovery in has found that €727m of the by local authority finance The email also stated: “It the local economy when the national commercial rates experts for the County and is probable that most, if not emergency is over”. base — almost half of the to- City Management Association all of this money, will remain One Fine Gael councillor tal collected annually — is in (CCMA), the body which rep- uncollectable for 2020. spoken to by the Sunday jeopardy because of the crisis. resents all county managers “It will not be possible for Independent — Fingal-based The potential loss of such in Ireland — found that the the local government system Tom O’Leary — urged the a huge chunk of local gov- shortfall in rates income to to sustain the financial shock government to abolish com- ernment funding could lead councils would arise as a re- that is emerging as a result of mercial rates for six months to “severe measures to ad- sult of the enforced closure of the Covid emergency unless to help smaller businesses, dress the situation, up to rate-paying businesses. there is compensatory fund- but to also provide immediate and including curtailment of An email sent on Friday ing available from elsewhere.” funding to county councils to services and support projects to the executive membership It urged councillors to protect local services and pay for local community, shorter of the Association of Irish contact the Department of the wages of council workers.

Farmers’ fears over new New Dublin bullion migrant labour shortages firm’s virus gold-rush

Sean Pollock facing the sector, which typ- Fearghal O’Connor headed up from inception Business Reporter ically attracts up to 2,000 seven years ago. workers each year, could A NEW Dublin-based bullion He told the Sunday Inde- ISSUES with attracting mi- immediately affect soft fruit seller has shifted over 25 pendent that a wide range of grant labour due to the Cov- growers, who start picking kilos of gold — close to its Irish-based investors — from id-19 pandemic could result berries soon. annual target — in its first experienced punters looking in “huge challenges” for Irish A lack of migrant labour three weeks of business. to make a return as the gold fruit and vegetable growers, arriving could hit stocks of Core Bullion founder Ni- price rises, to multinational according to the Irish Farm- some affected growers’ pro- gel Doolin said his timing expats looking to protect ers’ Association (IFA). duce. Other seasonal growers to open the Francis Street their high earnings — had Paul Brophy, IFA chair- don’t start until June. physical gold-selling busi- spent more than €2m on man of horticulture and head Flight cancellations have ness “could not have been Core’s gold bars. of Brophy Produce, which disrupted the routes taken better.” It had seen a rush Before the crisis, gold grows broccoli in Naas, said by migrant labour. of nervous investors buying was selling for about €1,340 farmers would face consid- David Keeling, chief ex- into the precious metal as the an ounce. It is currently at erable challenges in growing ecutive of Keelings Retail, global pandemic took hold. €1,400 but has peaked at over fruit and vegetables if the an Irish fruit and vegeta- “We’ve exceeded anything €1,550 in recent weeks, its pandemic hadn’t cleared by ble grower, wholesaler and that we thought we would highest rate ever, said Doolin. June. He said he had heard of brand, said he is considering do. We’re just over 70pc of He claimed it was “very some migrants choosing not chartering flights to ferry our yearly target in our first important” for gold investors to leave their countries due to workers here as a back-up three weeks,” said Doolin, to buy physical gold rather the virus, which was leading plan should routes be can- who has been dealing in gold than bonds or shares linked to some farmers questioning celled in the future. for a decade and was previ- to gold: “If an institution or whether to plant seeds. ously head of trading with a government collapses, so Brophy believes issues Continued on page 2 Merrion Gold, a business he does your piece of paper.” MYSTERIOUS SF DONOR JUDY MIRIAM ‘RUN OUT OF IRELAND’ GARLAND The dark The inside story of William Hampton’s life PAGE 10 O’CALLAGHAN side of the rainbow Love, family LIVING and tip-toeing Camogie How Brexit back to the finals: the will change

church essential your life PROPERTY guide 10 HOT Your questions INTERIORS SPORT MAKE SURE YOUR LIFE MAGAZINE IS INSIDE answered PAGE 4 TRENDS SundayIndependent

Vol. 114 No. 36 8 September 2019 city final ¤3.30 (£2 in Northern Ireland)

RTE: forced job cuts without extra €55m THE BEST: IRELAND NUMBER 1 Gardai ‘will protect new Samantha McCaughren The broadcaster indicated significant cuts were required RTE plans reveal the broad- However, last month the Business Editor that if no extra public funding as there could be a political, caster sought a €55m funding Government announced that structures was forthcoming, several ser- union and audience backlash boost for an ambitious plan to while the licence fee collection RTE warned the broadcast- vices could face cuts including to such cuts in services, while transform the organisation would be put out to tender for checks ing regulator that it could be “regional activities”, sports advertising revenue could into a multi-media organisa- and a media charge would be forced to make compulsory content and educational and also take a hit. They said this tion, diverting money from introduced in five years, no redundancies if it did not re- religious content. would be a risky approach and TV and radio into online. immediate funding increase near Border’ ceive an increase in funding, Consultants tasked with therefore recommended extra This would have brought its would be forthcoming. according to documents seen evaluating RTE’s position said funding. exchequer funding close to Maeve Sheehan by the Sunday Independent. RTE would need support if The documents detailing over €240m a year. Continued on page 2 A SENIOR officer has warned that gardai will have to protect any structures that might be put in place at the Border in the event of a no-deal Brexit. The Taoiseach confirmed for the first time last week that there will be some sort of checking of goods “near Fear factor now the Border”. Yesterday, the president of the Association of Garda Superintendents, Noel Cun- ningham, told the Sunday Independent that if structures were put in place in the Border region, they could become targets of dissident republi- hits house prices cans, and would need to be protected by police on either side of the Border. Supt Cunningham said Brexit “may well create huge opportunities for criminality ÷ Brexit concern sparks ÷ Dublin and commuter and that’s where our concerns are. If you put structures on NUMBER ONE: Rory Best leaves the pitch after his final the Border, those structures significant value declines belt areas among worst hit home game as Ireland captain. After yesterday’s victory have to be protected.” over Wales, Ireland now head to the World Cup in Japan as the world’s number one-ranked side. Photo: Brian Lawless › Full story, page 4

Fran Power twice yearly report, confirmed: Property Editor “There’s a slowdown in proper- FULL REPORT IN PROPERTY ty right across the country and HOUSE prices have fallen some parts of Dublin are still nationwide, in some areas being hit worse than others.” significantly, over the first In July, the Central Bank six months of the year, ac- is having an impact on people’s Price drops have spread warned that a hard Brexit cording to a report published behaviour,” according to the beyond the capital to the great- could affect house prices. exclusively in the Sunday Institute of Professional Auc- er Dublin area, commuter According to Davitt: “The Independent today. tioneers and Valuers, which counties and regional cities, uncertainty of Brexit is hav- The decreases in achieved compiled the data. according to the Residential ing an impact on people’s prices are particularly pro- In February last year, the Property Price Barometer. behaviour — whether to buy a nounced in Dublin, with de- IPAV barometer correctly iden- The market for four-bed property or not, and the timing clines of up to 12.5pc in the tified the first slowdown in the semis around the country has of buying, even the timing of Dublin 4 area. The decreases rate of house price increases. been worst hit, with prices in selling. Those prices are falling are evident in other cities and By September, it had picked this category falling all over because of confidence, that’s larger towns around the coun- up on the first price drops in the country. In Roscommon, all. It’s not that people can’t try as well as in commuter belt Dublin. It now shows that the the decline was 7.8pc, while afford to pay their mortgag- areas, the new figures reveal. fall in actual prices achieved in Dublin, all property types es, or people can’t afford the Property experts say a fall has spread beyond the capital — two-bed apartments, three- property.” in market confidence among and commuter counties. and four-bed semis — have The Residential Property house buyers is behind the The national average price seen prices fall. Price Barometer is compiled drops, although an increase for a property now stands at In contrast, the apartment by IPAV from actual sales in the number of new homes €263,606, a 2.5pc drop since market showed double-digit achieved nationwide by its coming on the market is also late 2018. However, this figure increases in some areas out- members for the average price dampening demand. masks a number of larger city side the capital, but drops in across the three most popular The fall in confidence is price falls as values in some many city postcodes and the types of property over a period being put down to uncertainty rural areas continue to rise. popular commuter counties of six months. around the Brexit process, The figures confirm the of Wicklow and Kildare. The figures contrast with which the Central Bank of downward trend in Dublin, Pat Davitt, chief execu- the most recent CSO data for Ireland recently warned could where prices have fallen by up tive of IPAV (the Institute of June, which show that house affect house prices. to 12.5pc, with prestige homes Professional Auctioneers and “The uncertainty of Brexit in Dublin 4 hit most. Valuers), which compiles the Continued on page 2

BRENDAN O’CONNOR Prepare for a storm in a B-Cup

ODAY the views met them. And today I hope in a massive eruption.” Brendan on the East Coast expressed here are some small way to give them a “A big build up and loads and a bit in Cork.” And even personal. But in voice. Because they are largely of hype but ultimately an if it’s just a bit of wind and T another way they are voiceless — apart from the anti-climax.” And suddenly heavy rain, our name will be not. Because today I don’t Mauras obviously; they have this is all we are. We are attached to it. If it’s worse, just write for me. Today I quite a good spokeswoman. storms. Our names will be they’ll talk about for years. write for all the Brendans. Some people are born blackened, our reputations “My house was never right And indeed all the Mauras. stormy, but some of us have rained down upon. again after Brendan flooded And all the Hughs. And all storms thrust upon us. And It’s the Brendans I feel the jacks.” the Ciaras. And the Dennises that is what happened last most sorry for. Let’s face So I’ve been talking and the Ellens and the week to me and my fellow it, we’re probably not to some other Brendans Francises, and the Liams and Brendans and all the others going to make it as far as and we’ve been to see the Kittys and the Irises and too. The public submitted us Storm Vince or Willow. We some lawyers. We noticed the Olivias. as names for storms, and we probably won’t even get that they didn’t call a Today I even write for the were chosen, and we’re not Storm Maura. Sure, we’re storm ‘McGregor’ or ‘The Noahs — God bless them and entirely happy about it. pretty much guaranteed to Notorious’, presumably save them from their hipster The jokes and texts have one storm this year, because they’d be worried parents. Today I write too for started before we even woke so Atiyah will definitely be about intellectual property the Roisins and the Taras. I up that morning. “Cloudy unpopular at some stage, rights, which said Notorious even write for the Piets and the most of the time.” “All possibly quite soon. But let’s vigorously protects. So Gerdas, though I have never sunshine and light and then face it: How many Atiyahs we’ve decided to take a leaf have we in Ireland? So the out of his book. We have focus in this country is come together in a class Recommended retail price of the Sunday Independent in R.O.I is €3.20 going to be on the second action to protect our good Vol. 114 No. 36 C storm. “Watch out, Brendan’s name, to protect our brand. coming,” they’ll say to us. “I In short, we demand that see they’ve issued a warning the B storm not be called about Brendan.” “We’re Brendan. We even have the really hoping we’ll manage perfect solution. Ladies and to avoid Brendan. They seem Gentlemen, I give you… to be getting the brunt of Storm Boris. Sunday Independent 8 September 2019 tO2 DAY iN YOUR SundayIndependent S1

independent.ie/sport 8 September 2019

8 SEPTEMBER 2019 Sunday Independent INDEPENDENT.IE BREXit fACtOR? COmmUtER BElt House prices take a hit Standout design in › Are you missing guide as confidence falters, Kildare four-bed with says new report p3 all mod cons, €750k p2

tv & film highlights The Rotunda RTE2, 9.30pm The camera crew is back for a some of your SuNDay second series of the fly-on-the- PlAY it AgAiN fiNAls DAY Madagascar (2005) wall documentary inside the SuNdAY PROPeRTY 8 September 2019 Virgin Media 1, 3.10pm Dublin maternity hospital. This There’s nothing more dangerous Breaking new ground as Kilkenny Side-splitting animation, with opener follows first-time parents LiViNg the voices of Chris Rock and Jing and Christy, who have been 8 September 2019 Sunday Independent Edited by Fran Power than a wounded lion Pages 4-5 look to make amends Camogie Special Ben Stiller. A group of spoilt trying for a child for almost 10 zoo animals are lost in transit years, and Jade and Keith, who to their new home, and must are about to welcome their third. learn to survive in the jungles of newspaper or do you Madagascar, where the odd locals The Sitter (2011) INSIDE are just the start of their worries. Film4, 11.05pm A shaman Comedy, with Jonah Hill. A ... AND HOW Joe Treasure Island with Bear Grylls down-on-his-luck college student Channel 4, 9pm is woefully unprepared for the Brolly The survivalist is back, this time mayhem that unfolds when he AUTUMN SCHMIDT’S changed dropping 12 ordinary people on babysits the kids next door. an uninhabited island for five TO GET have a query on a weeks. While there, the group FrIDay will face gruelling challenges, all Fosse/Verdon my life while hoping to win a cash prize. BBC2, 9pm FOND The acclaimed drama starring Room to Improve Sam Rockwell and Michelle 10 TRENDS THE LOOK Barry Egan RTE1, 9.30pm Williams ends, as Gwen looks I suggested in the heat of the Architect Dermot Bannon and ahead to the future, and Bob moment that referee David garden designer Diarmuid Gavin plans to tell his story in a film. Gough may have been influenced are back in business, kicking off by the propaganda emanating from Kerry in the lead-up to the FAREWELL this new series with a trip to Chappie (2015) promotion? thE game. It was wrong of me. RACHEL Athgarvan in Co Kildare where The veteran singer opens up about her life and iconic career, Mary Black — No Frontiers, RTE1, Monday, 9.35pm RTE2, 10.15pm EXPERts they hope to create a dream Neill Blomkamp’s sci-fi, with Clockwise from left, Page 4 living space for a local couple. Mary Black — No Frontiers The Green Mile (1999) series, as the presenter follows Sharlto Copley, Dev Patel and Lisa Marconi, Roisin Lafferty and Next stop Japan as Ireland coach ALLEN RTE1, 9.35pm Film4, 9pm the progress of Paul’s ambitious Hugh Jackman. A tech genius Amanda Sawyer MONDay The legendary Irish singer opens Frank Darabont’s adaptation of Lincolnshire-based dream reprograms a police robot COMFORT My Big Day: Home or Away up about her roller-coaster life Stephen King’s novel, starring home. However, could a health to learn like a human does. goes out on top of the world RTE2, 9.30pm and career during this hour-long Tom Hanks and Michael Clarke scare prove to be too much However, a gang steal it, and Tommy FOOD It’s a showdown of epic special, covering issues including Duncan. A Death Row prison for the difficult project? plan to use it to help them Conlon if so, please email proportions as wedding planners motherhood and mental health. guard strikes up an unlikely carry out their next heist. Tara Fay and Bruce Russell go companionship with one of the The Host (2013) head to head in this new series. TuESDay inmates, but begins to suspect Channel 4, 1.50am SaTurDay Each episode they pitch their The Gensai that the convict may not be guilty. Sci-fi adventure, starring Strictly The idea of the perfect wedding day RTE1, 7pm Saoirse Ronan (right). Professionals to eager couples, who have to The first instalment of this three- WEDNESDay Melanie finds herself BBC1, 7pm pick whether they want to go for part series hears from some of Gogglebox Ireland caught up in a deadly An eye-opening Tara’s Ireland-based big day or the people from all over Ireland Virgin Media 1, 9pm alien invasion of Earth, insight into the Bruce’s international shindig. who love taking part in Parkrun. The TV-loving viewers are back fighting to protect the world of the star- His notorious confrontations for a new series, and are ready ones she loves — as well studded competition’s customerhelp@ with authority sprung from the Move over greige. Colour, pattern and a sense of exuberance are back. This Must Be the Place (2011) The Troubles — A Secret History to share their unfiltered opinions as the fate of the planet. professional dancers. same source. It was in him be- TG4, 9.30pm BBC4, 8.30pm on the biggest shows that Ireland But how do you get the luxuriant look without going overboard? Three of fore he ever became a pro and Comedy, starring Sean Penn. This new eye-opening series has watched over the past week. ThurSDay Die Hard 4 (2007) Ireland’s top interior designers let Fran Power in on the tricks of their trade. therefore it was still in him after A world-weary retired rock star looks at the history of the bloody Neven’s Spanish Virgin Media 2, 9pm he finished as a pro. HE strange thing about trends is that Amanda Sawyer, owner of Limerick store Irish heads to New York in the hopes conflict in Northern Ireland, Grand Designs Food Trails Action-packed sequel, one moment you’re laughing up your Girl in Brooklyn, agrees. “We are in a transition Page 9 of tracking down the former from its origins to its conclusion. Channel 4, 9pm RTE1, 8.30pm with Bruce Willis. Cop sleeve at that orange swirly carpet, period — people are always looking for something and the next you’re proudly unfurling new but I think we’re going to move into a dif- Nazi war criminal who It also features previously Host Kevin McCloud meets Neven Maguire begins a John McClane must one at home. Somehow without real- ferent style. We’re moving from the minimalist persecuted his Jewish father classified documents, unseen entrepreneur Paul Wilkinson new culinary adventure protect a hacker during ising it, orange swirls have become a Scandi look to something more comfortable. T possibility. And you don’t know when “To me, it’s more organic but with a bit more independent.ie or during the Second World War. footage and new testimonials. in this special edition of the in the city of Santander. a cyber-terrorist attack. you crossed the line from loathing the new look sophistication creeping in, and moving away from to loving it. the very simple to a look that is more decorative. So be warned — interiors is in the middle of a We’re seeing more layers, more textures like Eamonn ‘We love major shift. A changing sensibility is already all wool, boucle, natural materials and then that is around you and before long you may be moving layered up with jewel tones, or cushions, throws Sweeney on from all things hygge.“We have spent so long in and colourful accessories.” the minimalist Scandi world,” says Lisa Marconi, For award-winning designer Roisin Lafferty Like a one half of design duo Dust.ie, “that we want the of Kingston Lafferty Design, there’s “a draw back you but you’re opposite now.” There is a sense that the recession towards natural elegance, the earthy tones and Photo: Ramsey Cardy is gone, austerity is over, the economy is lifting. materials that have a warmth and a richness and Does anyone remember the world before 2016? “People want to live large,” says Lisa, “and they are quality but are also timeless.” are embracing life.” So how do you add colour, pattern and pizzazz And that means maximalism, she says. Splash- but stay the right side of Liberace’s boudoir? Our More is more for autumn — seen here might affect his decisions-making, it’s with Wales in this neck of the woods, Schmidt said. “The boys seem in good said the 37-year-old. “There have been es of bold colour, pattern, high-gloss paint and experts unpack the season’s trend and advise on in Brodsworth — Empress wallpaper BRENDAN call 1890 130130 and so fat that you shiny surfaces are all slipping in the front door. smart ways to get the look. and skirtings painted in Marine Blue 95; more than likely Schmidt knew every was less complimentary about Ireland. spirits and hopefully we’re unscathed. some wonderful memories, some you passed the time without these in- and Trump, and when they are taken us what we need. There we were, litical reporting is actually enabling both at Littlegreene.com FANNING detail of every permutation around “We were reasonably positive,” he said It’s the performance we’re proud of. use to make yourself better. TELEVISION REVIEW cessant parades of the grotesque in down, we will find it very hard to watching avidly about 10 o’clock on the destroyers of our civilisation. Continued on page 6 this game. of his own team. “Ireland went back to “We made 40 tackles in the first quar- “It’s nice for my mum and dad, my Britain and the United States. let them go. Tuesday night as the House passed They could not do it, without this His agenda extended no further than what they were traditionally good at, ter but then built our way into the game. wife and family to hear the reception I Prayer The five horsemen come up the FTER his last game at Lans- a winning performance that enhanced 85 per cent off nine, and using Bundee It wasn’t necessarily pretty to watch. The received. It feels like you’ve done more look like a Yes, on the odd day when the UK Trump understands this best of another historic vote — or at least arcane set-up in which grown men downe Road as Ireland coach, the mood, and as near as possible to a Aki. It’s been effective for them. When World Cup is huge so your focus is on things right than wrong over the years.” Declan Lynch hill together. We hear the drum- Joe Schmidt came out with a clean bill of health. Certainly the crowd they play that way, we’ve been success- the next game rather than the past. It Scotland, Ireland’s World Cup oppo- Julia Molony goes a bit quiet, you just move from all, because he has openly turned it was the most historic since the and women are supposed to simply ming of hooves, the breathing of line which surely no one in the seemed happy with the win, earned on ful coming really hard at those one-off was good to take the emotion out of it. nents in a fortnight, wrapped up their Aroom believed for a moment. “I the back of an aggressive short game in runners and stopping those collisions “I was here with my family for the warm-up series with a win over Georgia on the great Judy Sky News to CNN. his presidency into a television last one, and would be the most convey the ravings of these terrible the horses and the jokes about 20 BEST Brexit (Sky News) Many, many times I have seen programme that runs all the time, historic until the next one, and the men as being just one side of an weight passing between the didn’t even realise we were number one the second half from the home team. with good discipline.” first game of rugby when the ground was in Murrayfield on Friday night. Their in- monster’ Garland — abused (ranked side in the world) until after the As for injuries, Keith Earls — on his This time they were not successful, renovated. It’s phenomenal for such an jury list included Jonny Gray and Blade that classic set-piece on CNN, when and to which we are now addicted. one after that. evenly balanced argument. quintet. game,” he said following Ireland’s 19-10 first run out of the season — went off and much of the second half was played open stadium that it generates so much Thomson with hamstring strains, Jamie Miriam on sneaking by her mother and FICTION about eight of the finest minds of Of- Of the people who are trying to And if he has achieved anything We will miss the rage too, the defeat of Wales. with damage to a quad. And Cian Healy out with Wales on the back foot against noise. We’re lucky with that support and Richie with a facial injury, and HIAs for leave us your contact Back Page Given that it’s a racing certainty didn’t return for the second half having wave after wave of Irish runners close-in. that was evident with Rory’s ovation.” Blair Kinghorn and Ben Toolis. studio bosses who fed ficial America have gathered around take him down, we know that, say, of any value in his disgraceful life, rage that we always felt towards the Ireland coach knew what referee been replaced by Dave Kilcoyne, who It was enough to seal a happy send-off Best received a rapturous ovation the addiction BOOKS FOR HAT are we going to the studio table to pronounce the Elizabeth Warren is a better person, “Boris” has finally demonstrated those TV correspondents who cre- Mathieu Raynal had for his pre-match went on to have a good game. for Schmidt and captain Rory Best. when he was withdrawn in the second into churches and meal yesterday morning, and how it Warren Gatland, also on his last lap “Relief is the primary emotion,” half. “This place is incredibly special,” See Pages 2 and 3 that ultimately do when all this is latest Trump monstrosity to be the better in every way. But when we that the kind of TV journalism ated “Boris”. We won’t know what destroyed the AUTUMN over? What will our one that will surely take him down. are watching television, as most of which we have seen in politics hit us when the Elizabeth Warrens W Yet we know that it won’t really us are most of the time, and we are since the days of black-and-white, of the game have restored some long-distance marriage lives be like when we star are not watching Sky News half take him down, just that it would presented with a choice between is completely screwed. normality to the western world. the day and steeling ourselves for take him down if he were anyone one of the worst men who has ever I tried to warn the world of Ah, but you see what I did there? 8 September 2019 | Sunday Independent | lifE | 1 another Newsnight to see if de- else who has ever been in public lived, and a respectable woman who this, I kept insisting that political I made that commonly held as- details. mocracy is still the preferred mode life anywhere. just wants to do her job properly… journalism as we know it is fine sumption that there will indeed be of government in the United King- But that’s the game, and we know well, the bad man will usually be for reporting the trivia of everyday an end to these times, that there is dom? how it works now. doing the big numbers on Saturday politics but is simply not equipped some ancient rhythm to the affairs What were our lives like before They have hooked us into their night while the respectable woman to deal with anything serious — and of nations which means that we are INSIDE: PEOPLE, PLACES, RELATIONSHIPS, CULTURE, INTERVIEWS AND REVIEWS all this? Can anyone remember? evil machinations, so that there is will be tucked away in the quiet of now that it’s getting very serious in due something completely different Personally I have very little mem- now a small part of our souls that the afternoon. the UK and the USA, not only is the on our screens any year now. ory of the world as it was before is lost forever — they have taken up Last week though it was “Boris” truth of this observation abundantly Even if this were true, would 2016, except to wonder how we residence there, the likes of “Boris” giving us what we want, giving clear, we can see that “balanced” po- anyone want it?

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Fear factor now hitting FG attacks FF over spending demands News in Brief house prices nationwide Philip Ryan policy. It includes abolishing The Longford-Westmeath Baby dies and mother injured in collision Continued from page 1 demand. “We’ve ramped up prescription charges (€94m), TD said Fianna Fail’s demands production pretty rapidly in FINE Gael is ramping up ten- undoing austerity cuts for on the taxpayer were “unre- ÷ A four-month-old baby boy was killed after a two-car price inflation slowed to 2pc, recent years,” said McCartney, sions with Fianna Fail ahead GPs (€120m), building 50,000 alistic and unfair” and would collision in Limerick last Friday. His mother was in a its lowest level since 2013 “and demand has been esti- of budget negotiations by affordable homes in six years force the Government to in- serious condition in hospital last night. when residential property mated with a wide margin of accusing the party of making (€340m), increasing third crease taxes or borrow more The incident occurred at approximately 2pm at Cap- prices hit a trough. CSO figures error”. Supply is simply catch- spending demands which level eduction funding by money. pamore, County Limerick. The baby boy was airlifted to also showed that Dublin prices ing up with demand, he said. would cost taxpayers €24m €200m and increasing all Fianna Fail finance spokes- Cork University Hospital in a serious condition but died had flat-lined. It is estimated that approx- a day. welfare payments by €5 per man Michael McGrath dis- a short time later. His mother, aged in her early 20s, was Davitt points out vendors imately 21,000 new homes A new document compiled week (€268m) missed the document as driving one of the cars. She was also brought to Cork need to realise that they may will be built this year alone. by Fine Gael TD Peter Burke The 16-page report also “petty, juvenile politics” at a University Hospital with serious head injuries. have to make price adjust- “There’s not the level of urgen- estimates that Fianna Fail includes a list of Fianna Fail time when his party was put- Local Fianna Fail councillor Martin Ryan said the ments to sell — the average cy that there was in the mar- called for €4.35bn in addi- policy demands which Fine ting the country first. community is devastated by the crash. He said the family time to sell, according to fig- ket,” he added. “That urgency tional spending in the first six Gael could not cost. “I imagine it is designed to of the baby boy are from a neighbouring village. “It is ures published earlier this year that is created by rapidly rising months of this year. In a statement, Mr Burke deflect attention away from very sad for everyone involved, it’s an absolute shame,” he by estate agents REA, is now prices and the expectation of The Fine Gael report is said the spending demands the fact that Fine Gael is now added. nine weeks in the country and further rising prices, has just titled Fianna Fail — Spending were reckless and showed openly talking about putting Another female driver, aged in her late 20s, was taken eight weeks for a Dublin prop- naturally disappeared.” For All which is a play on the a “leopard can’t change its infrastructure somewhere in to University Hospital Limerick as a precaution. Gardai erty, twice that of a year ago. party’s 2016 General Election spots”. “Fianna Fail are trying the vicinity of the Border after have appealed for witnesses. However, director of re- slogan “An Ireland for All”. to present themselves as hav- the Taoiseach and Tanaiste search at Savills, John Mc- › Dan O’Brien: ‘Our economy The document breaks ing learnt from the immense repeatedly promised the Irish gardai treat man’s death as ‘suspicious’ Cartney, believes the recent continues to grow despite down demands by Fianna heartache and hardship they people North and south that slowdown and price drops Brexit fears’ — Page 18 Fail spokespeople across Gov- caused nationwide when they this was not going to happen ÷ Gardai say they are treating the death of a 55-year- are due to the number of ernment departments and put the party before the Irish under any Brexit circumstanc- old man at a rented house in Cork city as suspicious. new homes dampening down › Full report in PROPERTY REPORT: Peter Burke TD estimates the cost of each people and economy,” he said. es,” he said. The extent of the Garda probe will be determined by the results of a post-mortem examination. The dead man is originally from Mayfield on the north side of the city. His body was found at a house on Bandon Road by his son at lunchtime yesterday. The man’s son had been trying to call him for a number of days and decided to go to the house after attempts to contact him were unsuccessful. The death was treated as suspicious We can no longer continue after gardai discovered injuries on the man’s body. The scene was preserved yesterday and investigating officers requested the services of the State Pathologist’s Office. Forensic experts will also examine the scene. Gardai have also begun door-to-door inquiries in the area to see if anyone noticed anything suspicious in the locality in the past few days. They have begun tracing the as we are, rTE boss warns man’s last movements and are examining CCTV footage to try and trace when he last left the property or to see if anyone called to the house. National broadcaster to ‘reassess everything’ and will introduce cost-cutting plan next month Appeal for witnesses to hit-and-run

÷ A 20-year-old man is in a serious condition in hospital Continued from page 1 make ‘hard choices’. “Cuts after a hit-and-run incident in Dublin when he was struck are likely to be contentious, by a car last Friday night. The incident happened on Cork Last Friday RTE director potentially raising political Street in the city centre shortly after 10.15pm. general Dee Forbes told staff and union opposition, as well marian finucane Gardai and emergency services attended at the scene, that RTE’s current financial as complaints from existing tOP tEN 5 and the injured man was taken by ambulance to St situation was “not like any- audiences,” said the report. €300,617 James’s Hospital, where his injuries are understood to thing we have seen before. “RTE states this would EARNERs be serious. The car involved in the incident failed to stop As a result, it will no longer likely require compulsory and continued travelling in the direction of Dolphin’s be possible to continue as we redundancies, and changes to miriam O’Callaghan Barn. The scene was preserved for examination by Garda are”, she said. legislation, as it would impact 6 forensic collision investigators and local diversions were A cost-cutting plan is to be its ability to fulfil its statutory Ryan tubridy €299,000 put in place. Investigating gardai at Kevin Street are announced next month. remit in some areas,” it said. 1 appealing to the driver of the car to come forward. A key part of RTE’s pre- The consultants said €495,000 They are also appealing to witnesses or those with ferred strategy was “a sig- should RTE require a ‘radical video or dashcam footage to contact them. nificant shift in budget from review’, it “might also find Claire Byrne broadcast TV and radio to itself forced to use involuntary 2 7 Cigarettes seized after ship detained online”. redundancy, in order to effec- €216,000 RTE submitted two plans tively and rapidly target cuts”. Ray D’Arcy ÷ More than 118,000 cigarettes were seized by customs to the Broadcasting Authority When contacted by the officers as part of a surveillance operation off the coast of of Ireland (BAI) — one out- Sunday Independent about €450,000 Bryan Dobson Dublin on Friday. lining a scenario in which it potential cuts to the pay of the 8 Revenue officers detained an Italian registered mer- got a funding boost and one broadcaster’s top ten highest €198,146 chant vessel during the operation and discovered quanti- in which it received no extra earners, such as Ryan Tubridy 3 ties of branded cigarettes worth more than €70,000. They money. and Ray D’Arcy, RTE said it say these entering the black market would have resulted British consultants Com- could not “comment on specif- Joe Duffy in a €56,000 loss to the Exchequer. The vessel was seized munications Chambers sub- ics” and then referred us to the george hamilton and subsequently released upon payment of a €50,000 mitted an analysis of RTE’s director general’s note to staff €389,988 9 fine. plans to the BAI early last year that stated: “[RTE] has been €186,195 The seizure was part of Revenue’s operations targeting and warned that RTE would reassessing everything we 4 the shadow economy and the supply and sale of illegal have to make significant cuts currently do and what we can tobacco products. in a no-funding situation. continue to do in the future.” sean O’Rourke mary Wilson The investigation remains ongoing and members of But the report said cutting There was no comment 10 the public with information regarding the smuggling some of RTE’s output could be from RTE on the consultants’ €308,964 €185,679 have been asked to contact Revenue in confidence on required even with additional report. 1800 295 295. funding, flagging that in any scenario, RTE could have to › Full story in BUSINESS Most recent figures are for 2016 No winner of €3.6m lotto jackpot

÷ The numbers drawn in last night’s €3,619,960 Lotto draw were: 8, 11, 12, 25, 34, 39 (bonus 42). The €1m Lotto Plus 1 jackpot numbers were: 4, 5, 26, 27, 34, 47 (bonus 32). The €250,000 Lotto Plus 2 jackpot numbers were: 16, The time for kid gloves in Montrose is over 23, 26, 34, 38, 39 (bonus 12). The raffle number was 0932. Businessman leaves €3.5m in will Has the day of reckoning formed organisation, reborn ted to the BAI last year and “Without additional pub- The consultants outline ÷ Gerald Freeman, a company director of Milltown as a multi-media compa- revealed in today’s Sunday lic funding, RTE will need to some ‘soft constraints’ Grove, Dublin, who died on September 27, 2018, has arrived for RTE? Hard ny thanks to a suggested Independent, give the first radically change or weaken which have held RTE back left €3,553,458 in his will: Other wills: Dorothy Oakes, choices loom if money funding boost of €55m per insights into where RTE’s its offering, and likely see from more severe finan- Madeira Wood, Enniscorthy, Co Wexford, died June 22, annum. A second version knife is likely to cut. further loss of reach and cial cutbacks in the past. 2018, left €2,592,168; Laurence Lee, farmer, Oristown, isn’t available, writes painted a bleak picture of an Regional activities, sports share,” said the consultants. Chief among these is RTE’s Kells, Co Meath, died September 25, 2017, left €2,469,978; RTE with no extra income, content, special events and If RTE were forced to make reluctance to use compul- Mary McEvoy, Woodlands Ave, Stillorgan, Co Dublin, Samantha McCaughren mounting deficits and an in- genres such as drama, educa- such cuts, there would be a sory redundancy “which it died February 2, 2019, left €2,343,686; Timothy Grace, ability to appeal to a young, tion and religion would all risk it would need support believes would be damaging company director, Upper Drumcondra Road, Dublin, digitally focused audience. face cuts, RTE indicated to to cope with the political, to industrial relations and died July 1, 2015, left €1,501,307; Thomas Kirwan, TE has spent well forthcoming. However, the The Government has the report’s authors. union and audience fallout, staff enthusiasm”. funeral director, Auburn Grove, Malahide, Dublin, died over two years day of those hard choices failed to deliver a funding This would lead to it concluded. Therefore Com- The report says in RTE’s December 19, 2018, left €1,410,445; James Kirwan, farmer, R pressing home being revealed is drawing fix — and a long sought-af- Kilbranish, Bunclody, Co Wexford, died March 14, 2018, something which would munications Chambers and view, staff goodwill has the message that the close with an announcement ter media charge is at least have been unthinkable even the BAI recommended more enabled pay restraint. Given left €1,290,904; Marcus Bacon, manager, Shrewsbury organisation is in the depths on cuts due from RTE five years off. So now RTE is five years ago — the need for public funding. RTE’s financial position such Lawn, Cabinteely, Dublin, died April 21, 2019, left of a financial crisis. And management next month. in a review process finally compulsory redundancies at But it now seems naive policies now seem like a €1,125,832; Nuala O’Donnell, business assistant, Granville while director general Dee The Broadcasting Author- to settle on those difficult the semi-state company. that RTE felt that a €55m luxury it can ill afford. Close, Killiney, Dublin, died November 7, 2018, left Forbes has warned of the ity of Ireland (BAI) has been decisions, some decisions While reports from both boost to funding would ever In RTE’s last round of €944,152; Laurence Donovan, quarter master sergeant, urgency of the situation at looking at RTE’s pleas for RTE bosses clearly hoped the consultants and the BAI be delivered by Government, voluntary redundancies up died August 4, 2016, left €814,215 and Jonathan Philbin the national broadcaster, extra money since 2017 when they would never have to criticise RTE for not giving even though RTE’s sugges- to 300 layoffs were target- Bowman, journalist and broadcaster, died March 6, 2000, she has refused to be drawn RTE first submitted two pos- countenance. enough detail on what would tions included some practical ed — only 160 or so were left €395,000. on the ‘hard choices’ that sible visions for the next five An analysis of RTE’s plans happen if no extra funding measures such as a Revenue delivered. the group would face if years. One version outlined by UK consultants Commu- were to be secured, the mes- Commissioners-led crack- The time for kid gloves is The value of estates may include property, including the family extra funding were not by RTE envisaged a trans- nications Chambers, submit- sage is clear. down on licence fee evasion. over. home, and should not be regarded as cash amounts. DATALEX WOES Taking care of HOW TO SAVE your career path What now for YOUR FUTURE Gina London, p7 troubled firm: Do you need to put PLUS your Sunday Richard Curran, away most of your Property section p5 salary? p6 Pulls out from centre pages SUNDAYSunday InBUdependentSINESS

8 September 2019 Edited by Samantha McCaughren RTÉ sought €55m extra a year in funds from State

Group indicated cuts to sports and the regions could follow without support

Samantha McCaughren This would entail “a sig- meant cutting services. It said the consultancy said RTÉ had Business Editor nificant shift” in spending this would be “urgent” in the an “understandable reluctance “from broadcast TV and radio case of no additional funding. to use involuntary redundan- RTÉ sought a funding rise of to online”, particularly for The report said: “RTÉ has cy, which it believes would be €55m per year from the Gov- news services and content for not provided details of how damaging to industrial rela- ernment to plug its financial younger audiences. the additional spending cuts tions and staff enthusiasm”. shortfall and transform itself In a submission on a five- would be achieved, but has in- It said that “were RTÉ to into a digital organisation. year review of public service dicated that they might impact move to abandon this policy It said that with no extra broadcasting, RTÉ outlined areas including contraction and move to involuntary re- funding, regional services, its plans under two scenarios, in regional activities, sport dundancies, this might set a sports and drama were among one with a funding increase content, external commission- precedent for other semi-State the services likely to face cuts, and one with no increase, a ing, Irish language support, bodies”. while compulsory redundan- so-called ‘flat-cash’ scenario. orchestras, special events, The report from Commu- cies would also be required. With no additional fund- archives, genres including nications Chambers was sub- The group outlined to the ing, RTÉ outlined that signif- drama, arts, education and re- mitted to the BAI early last Broadcasting Authority of icant cuts would be required. ligion, and ‘specialist services’. year. The authors warned that Ireland (BAI) that its preferred Consultancy Communi- “RTÉ states this would RTÉ should be supported, as strategy for the future was to cations Chambers analysed likely require compulsory re- cuts to services would result move to a “third phase” as a RTÉ’s plans and said that with dundancies, and changes to in a backlash from politicians, public service broadcaster, no commercial growth likely, it legislation, as it would impact unions and the public. becoming a “fully integrated was left with “re-prioritising” its ability to fulfil its statutory multi-media organisation”. services, which it explained remit in some areas.” However, › Continued on page 2

RTÉ personality Ryan Tubridy with actors Demi Isaac Oviawe and Eileen O’Higgins from two new series, Young Offenders and Dead Still, at the launch of the station’s new season last month

Department warned over New probe ordered in ‘overstated’ forest returns Positive Action case

Fearghal O’Connor concept of the fund to be a Fearghal O’Connor from a regulatory investi- very good one, we feel that gation by CPA Ireland, the THE government depart- the estimated return on in- A KEY accountancy body has Institute of Certified Public ment with responsibility vestment to be overstated”. been ordered to undertake Accountants. for forestry was warned by The firm requested a a fresh investigation into an But in May the Irish Au- investment industry experts meeting to discuss the issue audit of a charity by one of diting and Accounting Su- about what they believed with the department. its members. pervisory Authority (IAASA) were excessive returns prom- “We feel this is an impor- The charity was closed commenced a new enquiry ised to forestry investors. tant issue not only for us down in 2014 after a HSE au- on foot of a complaint made Hundreds of shareholders but for the forestry industry dit had previously uncovered by the HSE regarding the of the Irish Forestry Funds generally, and though we “considerable extravagance”. audit of Positive Action by have threatened legal action would like to air our con- Positive Action — a char- Cronin & Company, which after receiving cheques last cerns publicly, we are aware ity set up to support women is a member firm of CPA month with returns substan- of the possible legal implica- infected with hepatitis C Ireland. tially less than predicted. tions of doing so,” it said in from blood products sup- “The Authority has, with In May 1998, the then its submission. plied by the State — was au- the approval of the High Department of Marine & Nat- A spokesman for Veon - dited by Cronin & Company. Court, annulled the decision ural Resources was warned the firm that ran the funds In 2016 a former director [by] CPA Ireland’s Investiga- by an investment firm about - said it was unaware of the of the support group was tion Committee and directed the forestry scheme that submission and therefore jailed for stealing more than the Institute to undertake was then seeking investors, could not comment, but not- €116,000 from the organisa- a fresh investigation,” said according to documents seen ed that shareholders to the tion. It had 730 members and IAASA. It said that it was “not by the Sunday Independent. scheme had made profits on received the majority of its satisfied that the Institute A report sent to the their investments. funding from the HSE. complied with the approved department warned that Cronin & Company had investigation and discipli- “though we consider the › Focus, page 5 successfully defended itself nary procedures”. Global co-living giant to submit plans for 235-room site in Dublin

Michael Cogley that such legislation had Business correspondent been proposed. “I would have loved to ONE of the world’s largest show these people our Old co-living companies, The Oak and Canary Wharf Collective, is set to submit buildings in London, to plans for a 235-room show them the reality of development in Dublin, co-living,” Penfold told the the Sunday Independent Sunday Independent. understands. “I think that housing is The company pur- ‘Housing is an emotive an emotive issue, under- chased a half-acre site in issue, understandably,’ standably, and people are Fumbally in Dublin 8 in says James Penfold of frustrated by a lack of May for around €10.5m, The Collective options in housing provi- after Housing Minister Eo- sion.” ghan Murphy legislated to He added: “That’s why allow co-living in Ireland. proposals from some site. Sinn Féin deputy it’s so important to broad- The controversial hous- companies have drawn Eoin Ó Broin proposed en the housing mix. ing model sees tenants comparisons with ‘Dicken- new legislation in August “Co-living is not a re- share communal kitchens sian’ accommodation. to ban co-living develop- placement for traditional as well as other facilities, It is understood that ments. houses or apartments; it’s such as games rooms, cin- The Collective will look The Collective’s Ireland just another option.” emas, libraries and gyms. to build a 93,000 sq ft de- country lead James Pen- However, co-living velopment at its Fumbally fold said it was a “shame” › See page 4 2 | BUSINESS | NEWS Sunday Independent 8 September 2019 RICHARD CURRAN Donohoe should assume the worst when preparing for Budget

INANCE Minister Paschal Donohoe Perhaps as a UK-only play, Greencore has some tricky decisions to make might be ripe for a takeover, especially if ahead of next month’s Budget. the share price comes down on the back of FBudget calls are always tricky. This a post-Brexit recession. But Coveney has time is different as Brexit looms rightly pointed out that it offers its products large. So too does a possible general election in all price points and, well, ‘people have here. to eat’. And while the market is tough, the There has been a strong feeling that if the company’s balance sheet allows for further direction and nature of Brexit became a little acquisitions. clearer, there would be a need to clear the Greencore shares gained close to 8pc dur- political air in Ireland too. ing the week and were trading around 225p. So should Donohoe presume the worst They were as low as 162p last December. and do very little by way of spending increas- One thing Coltrane might have some- es or tax cuts, or should he try to do some- thing to say about is senior management’s thing small for everybody with an eye to a remuneration. Coveney has attracted a lot more stable economic picture and a possible of negative attention in the past for a hefty election? remuneration package which totalled more This should of course be a no-brainer. than £3m just a few years ago. Regardless of the madness taking place in In 2018 he earned a total package of Westminster (and soon to visit every British £1.25m. But Greencore is a much small- town and city with a general election), com- er business now. It reported revenues of mon sense suggests he should not engage £734.9m for the first half of 2019. This was in any kind of meaningful tax cuts. Equally, without the £500m of revenues the former Government spending has to be kept under US business would have chucked in the control, especially with so much wider inter- previous year. The level of management re- national uncertainty. muneration at Greencore after the sale of the The August exchequer figures put some of US business won’t be public until next year. these issues in perspective. Ireland has been There is a number that might interest the fastest growing economy in the eurozone Coltrane. for several years. Benign oil prices, cheap interest rates and a cheap euro fuelled a very Counting Duffy’s cut solid recovery. But instead of bagging any of this money WHEN it comes to remuneration, bankers for a real rainy day, Government spending really know how to get paid well. Unless of has been allowed to go up quite dramatically. course you are chief executive of AIB where The State took in €2.6bn more in tax in the the Government pay cap still won’t let you first eight months of 2019 than it did the money. Where would the exchequer finances month on Budget day. Having a long list of Coveney did exactly that and managed to earn more than €500,000 per year. previous year. Yet, we still managed to run be if Corporation Tax receipts had not taken tiny tinkering measures might not do much land a very good $1.1bn price for the sale of Former AIB chief executive David Duffy up an exchequer deficit of €625m. It isn’t a off into the stratosphere as they did a few for anybody but it has become the norm on the US business. Around half the proceeds was in the eye of the storm as shares in huge deficit by any means, but it shouldn’t years ago? Budget day since the recovery began. were used to keep the shareholders sweet by CYBG tumbled by 23pc during the week. The really be there at all. The scope for Budget tax cuts and spend- Public expenditure is where the Govern- returning it to them. Another chunk helped fall was triggered by higher than expected The cost of running the country through ing increases is very tight. Take away the ment has to be most careful. The Govern- to cut debt. costs associated with the PPI scandal there. total expenditure in the year to August was increased spending already accounted for ment is asking businesses to assume the Coltrane has been activist by shorting a Duffy really landed on his feet when he €36.4bn. Three years ago, expenditure dur- and there is just €700m left for additional worst on Brexit. It should do the same. number of stocks in the UK and the US. It left AIB to join the bank as it de-merged from ing the same eight months was €32.1bn, or spending increases and tax cuts. has also been pretty hard-nosed about oth- NAB back in 2015. He received £318,000 in €4.3bn less. Donohoe could put the squeeze on by Greencore won’t want to be ers. The company tipped outsourcer Inter- salary in the first four months of the job as That is equal to €82m more per week in tax-raising measures on excise on booze or serve into a pre-pack administration earlier well as 768,000 conditional shares to “recog- expenditure than in 2016. cutting tax relief on pension contributions to meat in Coltrane sandwich this year when it blocked a debt-for-equity nise the executive directors’ contribution to Yes, the exchequer tax receipts are ahead help fund a more generous income tax cuts swap deal with its lenders. the success of the de-merger”. of profile. Yes, spending has been kept under package. GREENCORE chief executive Patrick It is also reported to have made £4m He hasn’t looked back since, with total a level of control relative to profile. But we But he can only tinker around the edges. Coveney must be wondering about what New (€4.4m) betting against the shares in another remuneration in 2016 of £2m, 2017 of £2m have yet to see whether there will be another Widening the tax bands by €1,000 would York hedge fund Coltrane Asset Management UK contractor, Carillion, before its collapse and a further £1.8m in 2018. health spending overrun and whether a cost €216m. Bringing the self-employed tax is up to. The fund has built up a 3pc stake in last year. In fact he has earned around €7.8m since crash out Brexit will cause serious economic credit in line with PAYE workers would cost the sandwich maker and it has a track record A few things suggest Greencore manage- he joined. His total earnings in the same damage. another €35m. of being an “activist” shareholder. ment might be right in saying “nothing to see period if he had stayed at AIB would have The growth in tax receipts has been The economy does not need a consumer But what might it get “activist” about? here”. Coltrane doesn’t always short stocks or been €2m. fuelled to a worrying degree by the Corpo- stimulus. We have full employment and solid Surely the best time for an activist share- block equity swaps. It also takes up positions AIB chief executive Colin Hunt has point- ration Tax take. So far this year Corporation consumer spending. Why throw on more holder at Greencore was when its US in stocks where it sees value. It has around ed out that the effective ban on bank bonuses Tax receipts amounted to €4.9bn. This was fuel? business was seriously underperforming and 8pc of Cairn Homes. Its Greencore punt has is a bigger restriction than the pay cap. He €314m ahead of profile. That is all well and The minister has to have something to the company needed to reverse out of North come through CFDs and began more than a may be right but it doesn’t look like changing good depending on what is done with the announce when he takes to his feet next America. year ago. any time soon.

DEVELOPMENT Lafferty plots regional boost with new offices

Project management project management and architecture The model generally in Ireland is that — with a total turnover of around €8.5m. you appoint an architect, an engineer, a firm sees opportunities Just over half relates to project manage- quantity surveyor, a project manager. We ment. “We’re really focused on building bring them into one, so Lafferty has a full beyond Dublin, writes a business that is going to stand the test service offering,” Rattigan said. Samantha McCaughren of time,” Rattigan said. The company is working on a number “We’re not trying to feed a boom. I of student accommodation projects — think that’s generally the view in the equating to 1,250 beds at present — al- THE project management division of Laf- industry; everybody wants to see a though growth in this area is starting to ferty, which has worked on high-profile sustainable development of the sector.” tail off, he said. “There is quite a bit of schemes such as Dublin’s Dundrum Town He said he did not believe the risks supply and I would say too that the site Centre and Bord Gáis Energy Theatre, is which led to the last crash were present. costs have got to a level where viability diversifying into the regions by opening “We find this current cycle of capital is challenged,” said Rattigan. offices in Cork and Galway. investment is very different than the last Lafferty has overseen several large John Rattigan, managing director at cycle,” he said. projects and Rattigan said the Irish Lafferty Project Managers, said the move “So the funding model is very differ- schemes were more than capable of being was part of the company’s strategy for ent. The last time around, it was much delivered within budget and on time. sustainable growth. more a builder and developer profile, This issue came into focus early this “We became aware that there was and our own banks providing funding year when the scale of the over-runs on more activity starting in the regions with for projects. This time around, there’s the National Children’s Hospital was some Dublin-based clients and it made a lot more institutional investors, RE- revealed. sense for us to take on that opportunity,” ITs, real estate organisations — so very “There is a lot of international invest- Rattigan said. finance-orientated.” ment coming into Ireland at the moment “We have a plan in place to explore The firm turned its focus toward and I would argue that they (investors) other sectors in the regions, such as foreign direct investment during the re- are having a broadly positive experience,” industrial, food and beverage, private cession and has worked with companies he added. healthcare and medtech. Our purpose such as Twitter, Facebook and Yahoo. Established in 1997 by Pat Lafferty, there is not putting all our eggs in the “A lot of the US companies like to the group employs 60 people. Bernie one basket.” have a one-stop shop. The model in the Cullinan, CEO of Pragma Advisory re- The company has two divisions — US is that one company does everything. cently took over as chair of the company.

MEDIA RTÉ warned State of cuts without cash boost

Continued from page 1 cost-cutting plan to be announced in BAI that the RTÉ Board discussed a range October. On Friday, director general of options should no additional funding In making a recommendation to the Dee Forbes wrote to staff, saying: “With be forthcoming, including the possibility Department of Communications on commercial revenues and public funding of significant changes to RTÉ’s range of public funding, the BAI recommended both significantly below what is needed services, the options considered were that RTÉ should receive an increase in its to operate the organisation in its current not reflected in the final submissions to annual public funding of €30m. form, our current financial situation is the Authority. “In the view of the consultants, RTÉ not like anything we have seen before. “The BAI had expected engagement had not made a sufficient case for the “As a result, it will no longer be pos- with RTÉ on the choices facing the broad- full level of funding suggested (€55m sible to continue as we are.” caster on the future of its services and per annum),” the BAI said. In its report, the BAI said RTÉ was and platforms, particularly in the absence of Last month it was announced that TG4 were facing significant challenges increased funding.” while the Licence Fee collection would including “a recently-strengthened TV3”, It added: “It is unsatisfactory that be put out to tender and a Media Charge which was acquired by Virgin Media and RTÉ chose not to provide all the relevant would be introduced in five years, no since renamed. information requested by the BAI. immediate funding increase would be However, the BAI was critical of RTÉ “Without any increase in funding, or if forthcoming. for not providing more details on how it there are any further reductions in RTÉ’s RTÉ is currently carrying out a would tackle its funding shortfall. funding, the BAI takes the view that cuts wide-ranging internal review, with a “While it is the understanding of the to services are inevitable.” MEATY ISSUES MAKE WEAK GLANBIA’S IN BEEF SECTOR POUND PAY OFF FALL SEASON Rivals, prices and How to make the Food group facing into changing tastes sterling slump tough autumn, writes hit producers, p5 work for you, p6 Richard Curran, p2 SUNDAYSunday InBUdependentSINESS

1 September 2019 Edited by Samantha McCaughren US market offers Primark ‘significant opportunity’ — CEO

Penneys owner moves beyond trial phase in America after early success

EXCLUSIVE in Florida and in downtown this business,” he said. “We and so a store will have a Samantha McCaughren Chicago. The first US store wouldn’t have gone to the US wider geographic appeal, Business Editor opened in Boston in 2015. if we didn’t feel it had signif- whereas in the US, shoppers Marchant said: “We are icant opportunities for us. tend to shop more locally. VALUE retailer Primark, now starting to move from “It’s important that we The company marks its which trades as Penneys in that north-east corridor, com- didn’t run before we could 50th anniversary this year. It Ireland, believes the US mar- ing inland to Chicago and walk, and we learn the lessons was founded by the recently ket offers “a very exciting down to Miami, Florida. So in a controlled and man- deceased Arthur Ryan in 1969 opportunity” for the Dublin- that’s very exciting for us. ageable way. But the US is a and is owned by Associated headquartered business. “The fact that we are mov- big market clearly; 300 mil- British Foods, which is ma- Speaking to the Sunday ing beyond the 10-store trial lion-plus inhabitants. jority-owned by the Weston Independent, Primark CEO we initially announced now “It’s a big market and if family. Paul Marchant said it was will give you some indication we can get that right, I think Marchant said he was not significant that the company that we’re starting to see some clearly that provides a very overly focused on Brexit or was now moving beyond its really positive progress in exciting opportunity for us.” fears of a global recession. initial 10-store trial there, the US.” It has reduced the size “We believe we can thrive having made small adjust- The group now has 373 of its stores for the US mar- in an up-turning market, ments to its model. stores. Marchant declined ket, with trading space there we think we can thrive in a “We’re really pleased with to speculate on how many it working out at around 35,000 down-turning market,” he the US. We are really encour- would like to open in the US to 40,000 sq ft, while new said. He also said that it was aged actually,” he said. The but said it would expand at a European stores are around “comfortable” not offering company will soon open its manageable pace. 50,000 sq ft. He said part of online shopping at present. 10th store — in New Jersey “We’ve always focused the issue was that in Europe, — and will then open one on the long-term health of people travel further to shop › Interview, page 4

‘We are now starting to move from that north-east corridor, coming inland to Chicago and down to Miami, Florida. So that’s very exciting for us,’ says Paul Marchant, CEO of Primark, on its American strategy. Photo: Steve Humphreys

Fire safety moves ‘threaten developments’

Michael Cogley also includes an obligation changes could add an addi- UCD’s School of Architecture Business Correspondent to ensure cooking applianc- tional €4,000 onto the cost Orla Hegarty said that any es are at least three metres of a two-bedroom apartment. proposed planning applica- PROPOSED changes to apart- from the escape route of the The proposals are due to tions should have been in ment standards in Ireland apartment. take effect from October 1 line with current regulations. could challenge the viability Submissions to the pro- with no transition period out- “Fire safety is not assessed of numerous schemes across posals have been made from lined as yet. Should no period as part of the planning appli- the country, according to various stakeholders in the be implemented it is likely cation so it’s on the developer industry sources. construction industry. that a number of build-to-rent to ensure the layouts they The Government opened “Most of those that made schemes will need to return have sought planning for a public consultation on the submissions reiterated their to planning stages. complied with building reg- changes to the ‘TGB Fire support for the highest fire “Several developers within ulations,” she said. Safety 2006’ document in safety standards but stated the Dublin region are close Build-to-rent has become June. The proposals detail that many of the proposals to submitting applications increasingly popular in re- changes to open plan flats, as were excessive and will result under the fast track planning cent years and accounts for well as an obligation to install in significant cost increases system and they now fear that the majority of apartment sprinklers. and require substantial de- should elements of the draft development in the country. Other changes include the sign changes,” according to be implemented it will make The model has attracted in- extension of corridors to help a source familiar with the their application redundant,” stitutional investors. The de- contain fires and keep them matter. the source said. velopments are purpose-built away from inhabitants. It The source said that the Assistant professor at for long-term rental. EU rules could disrupt ‘Unlimited’ data deals web commerce — Stripe get new ASAI probe

Fearghal O’Connor He adds: “While it will Adrian Weckler about being charged €100 help to tackle fraud online, for exceeding a hidden one- A NEW regulatory change which threatens to under- THE head of the Advertis- terabyte monthly limit on its in Europe on how payments mine trust in the internet ing Standards Authority for unlimited plans. are handled could have “un- economy, the financial im- Ireland (ASAI) has indicated Other operators claim intended consequences for pact of the new rules could that mobile and broadband the right to ‘throttle’ a us- online commerce” and cost be as high as €57bn across firms using the word ‘unlim- er’s service, slowing it down companies as much as €57bn the continent, due to re- ited’ for data services with considerably so that it can in total, according to the sulting friction in checkout hidden limits may soon have no longer be considered as head of regulatory affairs at processes.” to change their policies. ‘high-speed’. payments firm Stripe. Cocoman said that the Orla Twomey said that However, Twomey denied Just weeks ahead of the European Union’s strate- the ad regulator is getting that the issue is a “black and mid-September deadline gy toward a Digital Single complaints on the issue and white” one. for the new rules to be im- Market had benefited Irish can see why some feel that “I think there is an ele- plemented, Stripe head of companies such as Pointy, current telecoms firm poli- ment of grey,” she said. “I regulatory writes in today’s Glofox and Teamwork. cies are “not consistent with think that if it’s not going to Sunday Independent that But a move by the Euro- the meaning of the word” affect people, then I don’t see “a large part of the industry pean Banking Authority to unlimited. that it is misleading.” is not ready for this seismic allow individual national “I couldn’t possibly disa- She was speaking on the shift”. Stripe was founded by regulators to delay enforce- gree with you that there isn’t independent.ie The Big Tech Irish brothers Patrick and ment of the new payment an issue to address in this Show, and the full interview John Collison. regulations has been in- area,” she said, referring to is available in the website’s “A very significant disrup- terpreted in different ways operators that penalise users podcast section. tion to European online com- around Europe. This means of mobile and broadband ser- The current ASAI rules merce is coming. Strong member states are “set- vices that exceed hidden data allow telecoms operators customer authentica- ting their own roadmaps limits on so-called unlimited to claim that a service is tion (SCA) will be one and enforcement dead- services. unlimited if its hidden limit of the biggest regulatory lines of varying lengths”, All of the country’s biggest affects less than 1pc of users changes to the world of which, he said, “adds an operators advertise such un- and a fair use condition is payments in decades, extra layer of complexity limited services, with limits identified. both for merchants to an already complex described as ‘fair use’ or bur- Telecoms regulator Com- and consumers,” piece of regulation”. ied in terms and conditions. Reg and consumer watchdog Michael Cocoman A number of Eir custom- the CCPC claim that it is writes. › See page 5 ers have recently complained solely an ASAI matter. 4 | BUSINESS | INTERVIEW Sunday Independent 1 September 2019 Taking care of the Penneys with style

Primark chief executive Paul Marchant feels keeping up CURRICULUM with customer demands will VITAE shield it from threats, writes Name Samantha McCaughren Paul Marchant

Age 51

INTERVIEW Position CEO of Primark EN years ago when Paul Marchant took over as CEO Lives of Primark, better known as Dalkey, Dublin Penneys in Ireland, it was well-known for value but Education needed to up its fashion game. Bexley Grammar School, Kent, Marchant can’t remember the England exact moment when he knew the brand had ‘arrived’ in the Previous experience Tfashion stakes, but he whips Debenhams, Topman, River out his phone to show a photograph from a recent Island, New Look walk down Dusseldorf’s Königsallee, one of the most luxurious shopping streets in Germany. Family “We were walking from our store to the hotel, Partner Charlotte. Son Riley and we walked past the Dior store. And inside the (18) and daughter Amelie (14) Dior store was a big pile of Primark carrier bags. Someone had put their shopping down to shop Pastimes inside the Dior store, and you can’t buy anything My biggest hobby is shopping. in Dior for under a grand,” he says. I love it. I would spend every “There’s me looking very, very pleased with my- minute of every day walking self,” Marchant adds, showing the snap of himself around the shops if I could. pointing at several large and very full Primark I am a big sports fan. I bags through the window of the designer store. support Charlton Athletic; Marchant is slow to take credit, but under they are rubbish but I love his leadership, Penneys and Primark, owned by them. Associated British Foods (ABF), have become a social media and retailing phenomenon. Favourite movie Those with influence in the fashion world — as Anything that makes me well as ordinary shoppers — are proud to proclaim laugh. that their bargain outfits come from the retailer. When Marchant joined the company and took over from its late founder, Arthur Ryan, a decade ago, he believed that the core principles of the business did not need to be changed, “other than the consumers’ demand for more fashion”. “We’ve always been anchored with fantas- tic-value core basic products — T-shirts, denim, bed linen, knickers and bras. The core foundation items have always been there,” says Marchant, who has rarely given interviews since taking up the role. “One of my objectives was to evolve that fashion story but at a sensible pace.” And he has certainly changed the company, which celebrates 50 years in existence this year. The company’s head office above its Mary Street store on the north side of Dublin city may not be in a location favoured by cutting-edge social media giants. But after entering through a bland security Paul Marchant, chief desk, Primark staff are treated to one of the most executive of Primark. modern and Instagram-friendly office spaces in Photo: Steve Humphreys the city. In addition to the high-tech break-out rooms and high-quality canteens, the many staff facili- ties include two personal training studios, a gym offering 36 classes a week, and a mothers’ room, where breastfeeding mothers can go to express However, Marchant is plugged into an emerg- Marchant acknowledges that the company is could again change how people shop for fashion. milk or simply head for some quiet time. BUSINESS LESSONS ing counter trend, which goes against the dispos- probably the only large retailer which doesn’t Will we see some move to digital in the next couple When Marchant joined, everyone was ad- able fashion concept: a desire from some shoppers have an online offering. “And today we sit very of years then? dressed as ‘Mr’ or ‘Mrs’. Now Marchant, dressed in to get more wear out of clothing. comfortably with that,” he says. Marchant laughs before saying “probably not”, a Primark bomber jacket and white trainers, chats What corporate culture do you promote “We definitely see that move toward people “We’ve continued to grow our market share although later goes back to it saying he is nervous and jokes with employees all over the building. at Primark? clothes-sharing, recycling their clothes, buying at a time when other retailers have moved their about sticking any timelines on things, as the “It’s really important to me that we create I believe in working hard and being agile and second-hand, buying vintage,” he says. proposition to more of an online offering. company will react as customer needs change. a culture that’s dynamic and vibrant, with the staying relevant. And it’s really important to “We have responsibility to change and evolve “However, we are very mindful, back to my Marchant believes there is still room for expan- communicative culture that we’ve got here,” says me that we create a culture that’s dynamic, our model to suit customer demands. Who says point about needing to react to the customer sion in Ireland and the UK, the company’s most Marchant. vibrant, with a communicative culture that we wouldn’t have a vintage clothing offer in our demands; we do recognise the shift to online is in mature market, not just in terms of new locations He often talks about the company evolving at we’ve got here. It’s really important to us stores at some point in the future?” the public domain for everybody to see. but also in terms of bigger stores. a slow or sensible pace but, on a day-to-day basis, as a leadership team and we encourage a This leads on to the overall question of sustain- “But what’s important for us is that any prop- It is currently in 12 markets with 373 stores, things move at a breakneck speed. culture of people being able to be vocal. ability, which Marchant says is high on Primark’s osition at any point in the future that we offer the latest new territory being Slovenia. It will This is thanks, in part, to Primark’s own repu- agenda. “By the time you go into a Primark store around online needs to be one which enhances enter two more markets next year — Poland and tation for the speed at which it turns around the What did you learn from Arthur Ryan, next year, you will see a significant amount of our our existing model. And that’s from both a product the Czech Republic. It has a relatively small pres- most sought-after fashion looks. who passed away recently? merchandise with a sustainable label on,” he says. proposition and customer proposition. And from ence in France, Spain and Italy, and so is likely to The old model of two fashion seasons a year Every conversation I had with him was a “Whether that piece is cotton... we’re looking at a financial perspective.” expand further there. Sales in the first half of the is well and truly gone. “The whole industry has tutorial and he gave lessons in anecdotes. more recycled polyester; we’re looking at working The company and its parent business ABF year were £3.6bn (€4bn). to recognise that customers see something and And I was fascinated by them. We would on recycled plastics for products,” he says. “It’s not have talked publicly about click-and-collect as The company will continue to expand at a want it instantaneously,” he says. socialise together, and we’d sit and we rarefied, it’s mass-market now.” something they may consider. relatively cautious pace, opening 15 stores in the “That changes our pricing model and changes would talk the business, and we would talk He also says that if a company is working ef- “There are lots and lots of things that we look current year. “The danger with trying to hit a num- the way that we buy; it changes the direction about the competition and the marketplace, fectively with its supplier base, there is no reason at, and lots of things that we consider, and we ber is that you maybe make the wrong decisions,” and the frequency of product reviews. We have customers. And Arthur was completely why sustainable costs should be higher. would be negligent if we weren’t continually Marchant says. “We want to be ambitious. But changed the way that we work with our suppliers obsessed with being the best at what we do. Marchant defends the company’s record on challenging our model. Whether that be around we want to make sure that every door we open is to speed up the whole supply chain. He would say things like, ‘never forget who working conditions at its suppliers. This came click-and-collect, around new products, around the right door, in the right location, on the right “Sometimes there’s a myth that the shorter we are, don’t try to be something we’re not, into sharp focus in 2013, when a factory collapsed price architecture, around store environment, footage, and is successful.” lead times mean that you may be buying from but understand what we stand for and be in Bangladesh, leading to more than 1,100 deaths. Marchant is feeling upbeat about prospects in different countries. It’s just as much about the the best at that’. “I think we are leading a lot of change in this the US. There are nine stores in the US at present processes you have with your existing suppliers area,” he says. “Maybe we haven’t been as vocal with another soon to open in the American Dream to be more efficient.” about it as we should have been.” ‘Without being shopping mall in New Jersey. Others will follow. He says the company’s suppliers have evolved to He points to the company’s membership of “The fact that we are moving beyond the 10th make production turnaround times much shorter. the Ethical Trading Initiative since 2006. “We arrogant, we think we store trial we initially announced now will give “There’s always going to be the odd exception recognise the responsibility that we have as a you some indication that we’re starting to see where you can turn it around very quickly, but in brand and as a business, to be a good organisation, some really positive progress in the US.” relatively small quantities,” he says. to be a good neighbour, and to work on ongoing are very good at what He says that every market is different and even “But, typically, with something which is either improvements to workers’ conditions,” he says. different parts of the same country would have on a jersey base, or woven fabric, you’re really The company has 110 people working in its we do and that’s what different requirements. talking about six weeks to get the volume.” ethical trade team around the world, and 3,000 The US has also required some tweaks: “We first Some items are planned months in advance factory audits are carried out each year. “We have went to the market, and there were a number of like coats, but Primark’s strength is knowing an obligation to improve conditions in all our we obsess about’ retail commentators who observed that Primark what shoppers are going to want before they do. factories,” he says. was a first-price, right-price retailer, and how “We are reacting every minute of every day. Marchant had always wanted to work in retail. would that work in the market used to ongoing Our buying teams, our designers, our fashion Raised in Kent, England, he left school at 16: “I we’re changing up our model all the time,” he promotional activity? PRs would be in the competition (rival stores), couldn’t wait to get into the workplace. I was so says. “So have we looked at click-and-collect? Yes, “We haven’t changed our strategy in the US. We on social media, every single day, looking at what obsessed with retail, obsessed with fashion.” we have. Will we continue to look at it? Yes, we are still a first-price, real-first-price retailer. It’s the new look is,” Marchant says. He started working in a menswear retailer will. Do we have any plans to launch right now? never our intention to change that in any market. This hunt for so-called ‘fast fashion’ also has before joining Debenhams, always working on the No, we haven’t.” That’s what we stand for. a negative side. The idea of buying an item for a buying side of the business. He worked with River There are issues for the Primark model when “Then the job we had to do was to educate the one-off wear has become the norm among a new Island for a period before returning to Debenhams, it comes to online, given its low-margin, high- customers: that T-shirt is $3 and that is the price generation of shoppers, spawning the concept of where he was made a director at age 29. volume approach. today, is the price tomorrow and will be going for- ‘disposable fashion’. He then joined value retailer New Look as “If there is a proposition, from a click-and- ward. And I think they’ve got that message now.” Marchant is not a fan of the description. “I chief operating officer, where he spent four years, collect perspective, that works for our business There would seem to be lots of headwinds think the phrase ‘disposable fashion’ is a really before being poached by Ryan. model, then we will do it,” Marchant says. facing retailers. Brexit concerns have heightened bad one, that you can wear it once and throw it There was quite a buzz in the British press “We are a low-average-selling-price, low- in recent days and there are fears of a global re- away,” he says. “We absolutely do not produce when it emerged that Marchant looked set to be margin, high-volume business and those first cession. Germany has already been tougher for clothes that we want people to throw away; we the chosen one to take over from the enigmatic two — low-price and low-margin — don’t go hand the company. want to produce clothes which genuinely have Primark founder. in hand with an online proposition because of Marchant doesn’t appear rattled, however. “We a longevity and can be worn over many, many, “It was always going to be a big piece of news the costs involved in that. So from a commercial believe we can thrive in an up-turning market, we many, many wears. for anyone to be given the chance to take over perspective, that makes that challenging.” think we can thrive in a down-turning market. We “We do recognise, however, that we live in from him,” recalls Marchant. “So when the con- He adds that the business thrives on footfall think our proposition is genuinely compelling,” an Instagram generation, where people want versations first started, the opportunity to be able — people coming through its doors. Customers he says. to wear something once and maybe not be seen to take over from such a retail legend, like Arthur often come in to buy one item and walk out with “There is no point moaning about the market to be photographed in a second time. We really Ryan, was something that was beyond exciting.” a bag full of products. “We have to make sure being tough, we have to do something about it. can’t affect that.” They didn’t know each other before Ryan made that anything we add to the proposition doesn’t Customer attitudes and behaviours are changing He also rejects any suggestion that Primark the approach in early 2008, but they got along damage that experience that the consumer has so quickly. You turn your back for a short period of clothes are any more disposable than those of straight away. Marchant joined Primark in 2009, today. But we never say never to anything. We are time, and the world has moved on. Without being rival retailers. taking over as CEO after nine months there. definitely not closed-minded in any way about the arrogant, we think we are very good at what we “We think our role we have to play is to continue He saw where he could change Primark: “I business of this brand,” says Marchant. do and that’s what we obsess about.” to supply and offer our customers great products really felt there was room to move the business Online shopping is changing fast, he adds: “If I It appears that fast fashion doesn’t allow that are high-quality,” he adds. on, in particular, from a store look and feel, and look at how my kids interact, they’re not looking Marchant much time to feel satisfied. Primark “Just because we offer great value, doesn’t make creating a retail environment which was exciting. at websites any more. They’re looking at social is thriving because it is constantly reacting to our products any more disposable than anybody And recognising that need for retail theatre.” media. So it may well be that digital transaction in ever-changing customer needs. else’s. If you look at our supply base, 98pc of our One of the biggest questions both shoppers the future takes on a completely different format.” “There is a phrase that I use all the time, which factories we share with our competitors; we don’t and stock market analysts ask about Primark is He points to Instagram, which could become is sort of healthy paranoia,” he says. “Make sure have this mystical supply chain.” when it will start selling online. transactional in the future, as something which that every day you are on top of the game.”