“Burden of rising costs,” Mayo TD welcomes ESRI research on minimum wage increases
Rose Conway-Walsh TD says findings challenge claims that higher wages inevitably drive up prices
Mayo TD Rose Conway-Walsh, has welcomed new research from the Economic and Social Research Institute (ESRI) showing that most minimum wage increases introduced since 2016 had no detectable impact on consumer prices.
Deputy Conway-Walsh said the research was an important contribution to the debate on low pay and the cost of living.
“The ESRI findings show that recent minimum wage increases have generally had no significant impact on prices, with the 2024 increase being the only exception,” she said.
She said the research challenged the argument that improving wages for the lowest-paid workers inevitably leads to higher prices.
Deputy Conway-Walsh said the timing of the research, two weeks before the Budget, should put pressure on the Government to do more for minimum wage workers.
She said minimum wage workers account for just 2.7% of the national wage bill and argued that low-paid workers should not be expected to carry the burden of rising living costs.
Sinn Féin recognises the cost pressures faced by small and medium-sized businesses, Deputy Conway-Walsh said, adding that her party had proposed a €250 million PRSI rebate to help businesses manage higher wage costs arising from increases to the national minimum wage.
“This enables businesses to grow and makes life affordable for workers at the same time,” she said.
Deputy Conway-Walsh also criticised the Government’s decision to postpone the introduction of a genuine living wage until 2029.
“It is shameful that the Government has postponed its introduction until 2029, leaving low-paid workers waiting even longer for a wage they can live on,” she said.
She highlighted the difficulties faced by workers in sectors such as retail and hospitality, including students struggling with rent, accommodation and transport costs.
“Too many people are working harder than ever but still struggling to pay their bills and put food on the table,” Deputy Conway-Walsh said.
She called on the Government to tackle the cost of living, support small businesses facing rising overheads and ensure that employment provides a decent standard of living.
“Low-paid workers cannot be expected to carry the burden of rising costs any longer,” she concluded.