One in three Irish people are struggling to make ends meet during the ongoing cost of living crisis, new research has found.
It comes as pressure grows on the Government to extend several temporary measures put in place last year that are due to expire at the end of next month. This includes reductions in the excise duty on petrol and VAT that have been in place since last March.
A new Red C/WIN International survey published today has found that 30% of the Irish population say that they struggling financially. This increases amongst people aged between 35 and 54, with 37% of this group struggling.
Read more: Businesses urged to claim new energy support scheme before end of month
Some 37% of people from lower economic backgrounds also find it difficult to make ends meet. Just a quarter of people have described their financial situation as “comfortable”.
The Annual WIN World Survey on the Cost of Living Crisis garnered the views of 29,739 individuals in 36 countries. The research found Irish people were quickest to react to the cost of living crisis, with 70% cutting spending in the last month.
This can be seen across all demographics, with just 9% of the respondents saying that they do not plan to curb their spending at all. However, the survey also showed that concern about the cost of living in Ireland is 6% lower than the global average.
Red C chief Richard Colwell said: “A significant divide clearly exists in Ireland, between those who are struggling and those still living comfortably in the current crisis”. He added: “Any future supports need to be focused on those most in need.”
Taoiseach Leo Varadkar reiterated last week that there can be no “cliff edges” when it comes to cost of living supports at the end of February. The last of the €200 energy credits is expected to be paid out by March, while excise duty cuts on petrol and diesel will end next month.
Mr Varadkar said last week that the Government will sit down in the coming weeks to discuss the future of supports.
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