Sinn Féin spokesperson on Finance, Pearse Doherty TD, has said that the continued fall in living standards experienced by households reflects the continued failure of Fine Gael and Fianna Fáil to improve the economic prospects of workers and families.

Figures released by the CSO today showing a decline in living standards in the third quarter of last year reflect a continued fall in Irish living standards compared to other European countries in the past decade.

Teachta Doherty said:

“Today’s figures released by the CSO show that Irish living standards fell in the third quarter of 2022, and in three of the last four quarters.

“This trend reflects the impact the cost of living crisis has had on households together with the crippling cost of housing and childcare.

“Workers and families have had to face high costs long before the energy crisis took hold, with persistent high prices in areas of childcare, housing and energy.

“Today’s CSO figures only scratch the surface.

“Irish living standards have fallen further behind other European countries in the past decade and are now 10 percent below the European average and in the bottom half of the EU.

“This reflects the failure of this government and indeed Fine Gael since 2011 to improve the economic prospects of Irish households.

“Indeed, through their policy failures in areas such as housing and healthcare, costs have risen and services are more difficult to access.

“The new Finance Minister will be judged, as will this government, on his economic record as households continue to face high living costs.”