Rose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source

I thank Professor McQuinn for his statement and I welcome both witnesses. The recent research to which Professor McQuinn referred showed that in 2021 half of all households saw their incomes decline or stagnate. In 2022 there was a sharp rise in the rate of material deprivation. As Professor McQuinn stated, this raises the prospect of three years without real income growth for most of our households. The proportion of individuals being unable to afford two or more items from the list of the ten essentials rose from 13.3% to 16.6% in 2022, with rates among lone parents being particularly high, at 42%. What is happening around inequality? Is it on the rise and has poverty increased?

Perhaps we can talk about some of the key factors around that because the Central Bank representatives in attendance earlier cited, as one of the key driving factors, the right conditions for growth and competitiveness. The ESRI's statement is linked in terms of the opportunities for investment in infrastructure.

Will the witnesses address the issue of inequality and whether Government expenditure and taxation policies contributed to the rise in inequality? What recommendations would the ESRI make on how best public spending, the budget and taxation can be targeted to address poverty and inequality?