June 30, 2023
Collective bargaining can help tackle ‘greedflation’ – Louise O’Reilly TD

Sinn Féin spokesperson on Enterprise, Trade, and Employment, Louise O’Reilly TD, said strengthening the hand of workers through legislating for collective bargaining “can help tackle the current wave of profit driven inflation”.

Speaking this morning, Teachta O’Reilly said:

“The current bout of inflation differs from previous inflationary periods in that it is driven by runaway profits more than wages. This has been reinforced by several domestic and international experts.

“Earlier this year the European Central Bank (ECB) highlighted that corporate profiteering was contributing more to inflation than wages, and last week the Central Bank of Ireland outlined that profits have contributed more to domestic inflation than wages.

“Indeed, earlier this week the International Monetary Fund reported that rising corporate profits accounted for almost half the increase in Europe’s inflation over the past two years, as companies increased prices by more than costs.

“Despite this evidence the government has continuously cautioned against wage increases fuelling inflation, and this mantra has been repeated ad nauseam by policymakers and Government ministers.

“However, according to a Parliamentary Question reply I received from the Minister for Enterprise, this position appears to have changed and the government now seem to appreciate the need to restrain profits to tackle inflation.

“The best way to ensure the corporate profiteering, which is the most significant contributor to the current bout of inflation, is restrained, is for the hand of workers to be strengthened through legislating for collective bargaining.

“If the government legislates for collective bargaining it will allow workers the ability to negotiate for better pay and conditions and thereby restrain runaway profits.

“I welcome the governments conversion on this matter, and I look forward to engaging with them further.”


Note to editor:

You can view the PQ response on Inflation and Profit Restraint in full here.

Follow us online

Latest Tweets

📻 Sinn Féin spokesperson on Further and Higher Education, Innovation and Science @Farrell_Mairead will be live on @PatKennyNT today, from 11:40am.

Listen here: http://newstalk.com


📻 Sinn Féin spokesperson on Enterprise, Trade and Employment @loreillysf will be live on @TodaywithClaire this morning, from 11:30am.

Listen here: http://rte.ie/radio1

The third and final day of a fantastic Ploughing. Thanks to everyone who stopped by the Sinn Féin tent for a chat over the last few day.

Sinn Féin in Government would stand up and ensure a future for our family farmers and deliver a fair deal for rural Ireland.


It was totally irresponsible for the Minister for Health to travel abroad possibly knowing the scandal at Temple Street Children’s Hospital was going to break.

This scandal raises serious questions around transparency, discipline, oversight & clinical governance. @davidcullinane

Load More