Cost of Living Action Plan

Our Action Plan to drive down costs and take on price gouging.
Read Our Cost of Living Manifesto

Cost of Living

Our mission is to provide better supports for families who are struggling and to protect
consumers from exorbitant prices hikes.

Our Three Key Priorities for cost of living

  1. Ensure tax credits and social welfare payments increase each year to beat inflation.
  2. Lower electricity prices to the European average and tackle energy poverty.
  3. Crack down on price gouging and stealth price hikes with stronger regulation.

How will we do this:

Ensure incomes are protected from inflation:

Since this government took office prices have risen faster than wages and welfare payments have not kept pace with inflation.
Once off payments, like we saw in the recent budget, don’t address the long-term problem – households seeing prices outpace their incomes.
Labour will ensure tax credits and social welfare payments increase each year to beat inflation.

Lower electricity prices to European average and tackle energy poverty:

Ireland has the third highest household electricity prices in the EU. Labour will establish an expert review group to report in six months about the best ways to reduce electricity prices to the European average.
Labour will also levy the windfall profits of energy companies (SSE Electricity €111m for 12 months to March 2024, Bord Gáis €50m in first 6 months of 2024 for example).
We’ll also levy data centres on their massive electricity use, which is 20% of all electricity produced. That’s more than all the urban households in Ireland. The funds raised will be used to tackle energy poverty.
Wind energy is also a much cheaper way of producing electricity than fossil fuels. Labour will ringfence €1bn of the ‘Apple Tax’ funds to allow the State to directly invest in wind energy projects and speed up delivery.

Protect consumers from price gouging and excessive profit taking:

Labour will increase funding to and expand the powers of the Consumer Regulator (The Competition and Consumer Protection Commission – CCPC).
Ensure there is no penalty for consumers who pay in installments for state services rather than in a lump sum, motor tax for instance – that’s a tax on those without big disposals income
Labour will ensure the Small Claims Court hears cases involving sums up to €8,000 – the current €2,000 limit hasn’t been increased since 2006.

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