Dr Claire Keane pointed out that the reduction in energy credits alongside the withdrawal of cost-of-living policies may push more pensioner and disabled households into poverty, emphasizing the need for an increase in core welfare rates.
The ESRI analysis revealed that the recent budget's measures disproportionately harmed low-income households, particularly pensioners, as neither the Fuel Allowance nor the Living Alone Allowance were adjusted for inflation, causing a net loss in purchasing power.
Finance Minister Jack Chambers' decision to lower the energy credit from €450 to €250 was criticized for its negative impact on fixed-income households, highlighting the struggles of the so-called squeezed middle.
Despite overall income growth projections, many critical welfare elements remain frozen, leading to small income losses for some households—a concern underscored by the ESRI analysis.
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