New Credit Union Survey Highlights Financial Pressure on Families – Crowe
Dublin South West TD, Seán Crowe, has called on the government to rewrite as workers and their families are suffering from its fall out.
Crowe was speaking after the release of the final Irish League of Credit Union’s “What’s Left? Income Tracker” today.
Deputy Seán Crowe TD said:
“This latest Credit Union income survey contains some hard and difficult statistics, but it is hardly surprising considering how this Government have targeted families on low and middle incomes since they came to power.
“The income tracker shows in black and white that a huge section of Irish society is struggling to make ends meet.
“The income tracker found that 1.6 million people are now left with 50 euros or less at the end of the month after their essential bills have been paid out. The report unfortunately highlights that since October 2012, 230,000 more people have fallen into this bracket. The tracker also confirmed from their survey group that Budget 2013 has impacted negatively on the finances of 8 in 10 adults currently living in Ireland.
“It would also apprear to suggest that the Government’s decisions on energy costs have also increasingly placed vulnerable people’s health at risk.The tracker found that 9 in 10 people have been negatively impacted by increased energy costs and 41% have had to sacrifice spending on basic household items like food to pay their energy bills.
“Looking toward later in the year the tracker survey suggests that the new family home tax is likely to have one of most pronounced impact on the population’s income. The new tax does not try to take into account people’s ability to pay, the amount home owners paid in stamp duty, or if they are in negative equity.
“Since this Government came to power they have done very little for those in mortgage distress, instead they have chosen to increase mortgage related costs by imposing this family home tax. This is simply a tax too far that many households wont be able to afford.
“The backdrop to the survey and big question left hanging in the air after this tracker survey is how does Government intends to extract this particular tax, from families existing on €50 a month or less.
” The income survey shows middle and low income households have no more or very little to give, and individuals and families cannot take much more of this.
” Like many others,I believe that the Government has real choices and can introdue a fairer way and more eglartian of dealing with the countries finances.
“We need to focus on creating jobs and reducing the cost of living for struggling households. We need to stimulate our stagnant economy and use the likes of National Pension Fund, and other available funds, to begin building again for a better future.”