Sinn Féin spokesperson on Finance, Pearse Doherty TD, has called on the government to get a grip on the cost-of-living crisis as a Central Bank report warned that inflation would remain elevated in the coming years.

The Donegal TD also called for an increase in capital investment as government failures in housing and infrastructure delivery pose a real threat to economic competitiveness.

Speaking this morning, Teachta Doherty said:

“Households continue to struggle under a cost-of-living crisis as prices continue to rise.

“Today’s report by the Central Bank has increased inflation forecasts for this year and next.

“The government must do more to reduce the cost of living.

“For too many workers, wages have not kept pace with inflation.

“Those on fixed incomes and the most vulnerable in our society have seen their incomes fall.

“Households continue to face exorbitant energy bills while, as the Central Bank makes clear today, energy prices have fallen across Europe.

“Childcare costs remain too high, with rents rising and unaffordable.

“The government has abjectly failed to tackle rip-off prices that are unsustainable for so many.

“It is also clear from today’s Central Bank report that the government’s deepening failure in housing and infrastructure delivery is a growing threat to our economic prospects.

“Increased capital investment to address these failures and our growing infrastructure deficit is needed now, and in the years ahead.

“Sinn Féin in government would reduce the cost of living and deliver a public investment programme that supports economic development for our communities.”