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Fiscal Council Report underlines need and fiscal headroom for supports for workers and families as inflation hits 8.2 percent - Pearse Doherty TD

31 May, 2022 - by Pearse Doherty TD

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

This follows today’s Fiscal Council Report, which forecasts a better-than-expected improvement in the public finances and scope for additional measures to support struggling households.

Speaking today, the Donegal TD said:

“Workers and families are in the grip of a cost of living crisis.

 “Households face increases in the cost of energy, food and other essentials that they simply cannot afford.

“Today’s figures from Eurostat show that inflation hit 8.2 percent in the twelve months in May.

“This will be much higher for lower and middle-income households who spend a higher proportion of their income on food and energy.

“Without support, they will face a fall in living standards that they cannot bear.

“Last week the Taoiseach again ruled out further measures to support workers and families until October.

“This refusal to act is inexcusable – a message to struggling households that they are on their own.

“It is not good enough.

“We in Sinn Féin are again calling on this government to wake up, bring forward an emergency budget and implement the measures we have consistently called for.

“By reducing the cost of home heating oil, not increasing it.

“By increasing social welfare rates, which the government has disgracefully allowed to fall far behind the rate of rising prices.

“By introducing cost-of-living cash payments to lower and middle-income households.

“By reducing childcare costs and helping struggling renters with a refundable tax credit and a ban on rent increases.

“The time to act was yesterday – the government needs to act now.”

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