Pearse Doherty: 'We live in a Rip-Off Republic'

Sinn Féin spokesperson on Finance Pearse Doherty TD has responded to figures published by the European Commission showing that Irish workers and families face the highest prices in the European Union.

Ireland was among the most expensive countries in the EU for household expenditure on goods and services last year with prices 46 per cent above the EU average.

New figures published by the European Commission confirmed the high cost of living in the Republic, with only Switzerland and Iceland having higher overall consumer prices in 2022.

The high level of overall prices in Ireland was largely driven by expensive alcohol and tobacco, energy, transport and communications prices, the report found. With regard to alcohol and tobacco, the Republic had the most expensive prices in the EU, coming in at more than double the EU average.

Deputy Doherty wrote to the Commission for Regulation of Utilities calling for the regulator to undertake an intensive and intrusive supervision of retail pricing in light of falling wholesale energy prices, as Irish households continue to face soaring energy bills.

“Figures released by the European Commission confirm what workers and families have known for a long time – we live in a Rip-Off Republic,” Teachta Doherty said.

“The figures show that we are the most expensive state in the European Union – with the second highest energy costs and the highest health costs in the EU.

“This is what households are dealing with as they struggle under the biggest cost of living crisis in a generation. Despite working hard every day, our economy is not working for them. This is the Government’s legacy and the Government’s failure.

“Figures released by the CSO today show that since March, household energy prices have risen by 60 percent despite wholesale prices falling by 64 percent in the same period. We know that electricity prices in Europe have fallen sharply in recent months while Irish electricity prices remain sky-high. This is not acceptable.

“That is why I have written to the energy regulator calling for it to undertake intensive and intrusive supervision of prices energy companies are charging households and their relationship with falling wholesale prices.

“Households are struggling – they deserve transparency and every effort to drive down energy costs. For too long, workers and families have suffered from the high cost of living under Fine Gael and Fianna Fáil.”