Oireachtas Joint and Select Committees

Wednesday, 23 March 2022

Committee on Budgetary Oversight

Pre-Stability Programme Update Scrutiny (Resumed): Central Bank of Ireland

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I was not saying it was just that, I was just giving that as an example. This predates Covid. The Central Bank's reports show a consistent increase in net household wealth for the past ten years or so, with fairly dramatic increases pre-Covid. It is interesting that is happening. Most people, particularly with the increasing rate of inflation and so on but even more generally, will not have felt their household wealth has increased. They will have been struggling already with the cost of living. This suggests there is a layer of the population that has additional money and that has seen its household wealth increase. Much of that relates to property, because these people are doing well out of the housing crisis, the high rents and so on, but they are also generating it from investments and savings.

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