Labour supports ICTU demand for inflation proofed pay increases

Labour Party spokesperson for Finance, Ged Nash has today (Friday, 11th February) supported calls from the Irish Congress of Trade Unions (ICTU) for its affiliates to campaign for inflation proofed pay increases to deal with the cost of living crisis.

Deputy Nash said:

“The pressure being put upon working people is immense and the reality is that Ireland needs a pay rise to cope with this cost of living crisis. It is as simple as that.

“Government interventions are welcome but the best way to protect workers from an increase in inflation is to increase pay.

“Workers, particularly those working in employments which are highly profitable should be treated by their employers as partners in the enterprise, and given the respect and recognition they deserve.

“Profits have been largely protected throughout the pandemic but wages have stalled or been swallowed up by rising rent, shopping, fuel and energy prices. Something has got to give to level the playing pitch.

“Some economists and commentators are spooked by the threat of a so-called wage spiral. This is not the 1970s and those views betray an attachment to outdated economic thinking.

“We believe pay rises at a time when we are seeing record breaking GDP figures generated by a skilled and productive workforce and unprecedented tax revenues thanks to the hard work of the people of Ireland points to an open and shut case for more economic justice for working people.

“We believe the Government must show some real urgency now and put an end to our low wage Republic by accelerating the journey to a living wage and decent incomes for all immediately.”

Ged Nash

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