March 23, 2022
ESRI Quarterly Bulletin underlines need and fiscal scope for cost of living measures to support households – Pearse Doherty TD

Sinn Féin spokesperson on Finance Pearse Doherty TD has called on the Government to introduce targeted measures to support low and middle-income households in response to the cost of living crisis.

This follows the publication of the ESRI’s Quarterly Economic Bulletin, which forecasts a better than expected improvement in the public finances, offering additional scope for further measures.

Speaking today, the Donegal TD said:

“Workers and families are facing a cost of living crisis with a Government that is failing to adequately respond.

“Today’s Quarterly Bulletin from the ESRI expects prices to rise by 6.7 percent this year, a level of inflation that will hit lower and middle-income households hardest.

“This will result in a cut to core social welfare rates in real terms and to living standards.

“The Minister for Finance’s refusal to introduce targeted measures to support workers and families is out of touch and lacks credibility.

“Today’s report shows that there is scope for additional support.

“The ESRI projects a surplus of €1.1 billion this year – with the public finances €9.4 billion better off than had been expected at the time of the Budget.

“Failure to act now is a dereliction of duty from Government as so many struggle to make ends meet.

“The Government cannot insulate households from everything, but they can and should do more.

“Sinn Féin are again calling on the Government to introduce targeted measures to support low and middle-income households – including cost of living cash payments, an increase in core social welfare rates and removing excise duty from home heating oil.

“There is no time for delay.”

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