Summer Economic Statement: People Need Help Now With Spiralling Cost Of Living Crisis

Hand fingers on background of neatly arranged stack of euro banknotes, currency bills worth ten

People Before Profit call on government to implement price controls, windfall tax and wealth tax

People Before Profit has called on the government to act immediately to help people who are being hit with the spiralling cost of living and inflation crisis.

The party outlined key measures which the government must take to support families and people as prices continue to increase.

These measures include:

  • Price controls
  • Windfall taxes on energy company profits
  • Wealth tax
  • Free and frequent public transport

People Before Profit TD and member of the Oireachtas Committee on Budgetary Oversight, Richard Boyd Barrett, said: “The government cannot continue to put measures to help people get through this crisis on the long finger. They must intervene now as the end of September is too late. People are being hammered as we speak.

“We are calling on the government to step in and take radical action on this crisis which is so intense in nature for people all over this country. We want the government to use the powers that they have under the Consumer Protection Act and introduce price controls to cap energy and petrol prices. This has been done in France and Spain. 

“Over the weekend we saw the announcement from Electric Ireland that their prices for gas would be going up nearly 30% and domestic energy by over 10%. This is a scandalous increase. We want the government to call the energy companies in and tell them that constant price increases are not acceptable and that they will be imposing a windfall tax on the energy company profits. If the Tory party in the UK can introduce a windfall tax, then surely Ireland can?”

Paul Murphy TD said: “We also want the government to bring in a wealth tax. Oxfam has said that the wealth of Ireland’s nine billionaires has increased by a massive €15.55 billion since the start of the pandemic – a 44% increase. We would bring in a tax on the wealthiest individuals which would raise €5bn. This is vital money that could be redistributed so that people can manage through this cost of living crisis, build housing and deal with waiting lists in the health service.”