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INOU Pre Budget Submission 2024

11 July 2023

The theme of this year’s National Economic Dialogue was: “The economy in 2030: enabling a sustainable future for all”. Throughout NED four Ds were referenced: demography; decarbonisation; digitalisation; and deglobalisation. Each of these will have an impact on the type of labour market Ireland will have in 2030, each presents challenges and opportunities for the type of work people will be able to access, and whether or not it supports them to live their lives to the fullest extent possible. The measures announced in Budget 2024 will lay down the foundation of whether or not a sustainable future is realisable for people living in Ireland by 2030. And to that end it will be absolutely essential that this Budget strives to address social exclusion and economic inequality. Amongst a range of commitments in the Programme for Government, Our Shared Future, the Government says they will “Protect core weekly social welfare rates”. (p74) Given the inadequacy of social welfare payments before the current rise in the cost of living, the impact of this rise on people’s ability to make ends meet, it is absolutely imperative that the Government increase social welfare payments by at least €25 per week.