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Minimum Income Schemes in Ireland: a context

Minimum Income Schemes in Ireland: a context. Round Table: Action Plan for Adequate Income 7 th October 2014. Dr Micheál Collins NERI (Nevin Economic Research Institute) Dublin mcollins@NERInstitute.net @ MLGCollins www.NERInstitute.net. Outline. Income in Ireland

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Minimum Income Schemes in Ireland: a context

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  1. Minimum Income Schemes in Ireland:a context Round Table: Action Plan for Adequate Income 7th October 2014 Dr Micheál Collins NERI (NevinEconomic Research Institute) Dublin mcollins@NERInstitute.net @ MLGCollins www.NERInstitute.net

  2. Outline • Income in Ireland • Austerity in Ireland • Poverty & Low Pay • Recovery • Priorities • Lessons from the Past

  3. 1. Income in Ireland

  4. 2. Austerity in Ireland • from Social Justice Ireland – Budget Choices 2014 (June) and Poverty & Income Distribution (July)

  5. 3. Poverty & Low Pay

  6. The Earnings Distribution: the bottom, the middle, the top and the very top • Bottom: incomes between €0 and €15,000 = 26% of earners (539,702 tax cases) • Middle: incomes between €15,000 and €50,000 = 52% of earners (1,056,216  tax cases) • Top: incomes between €50,000 and €100,000 = 17% of earners (354,570 tax cases) • Very Top: incomes above €100,000 = 5% of earners (99,129 tax cases) http://www.nerinstitute.net/blog/2014/09/09/the-earnings-distribution-the-bottom-the-middle-th/

  7. 4. Recovery • Reviewed in our recent QEO • Slowly taking hold • Regional divides remain • A key time to establish where we are going • Not back to where we were! • Budget 2015 – a formal turning point www.NERInstitute.net

  8. 5. Priorities • Recovery in context of continued economic threats & challenges • LT unemployment / low investment / public service gaps / high national debt • Prudent to be cautious • Budget 2015 is about priorities • recommend investment focus • no reduction in overall tax revenue (room to move around…) • More focus on: • public services • public investment • a fair recovery - relevance of adequate incomes

  9. 6. Lessons from the Past • Potential for divides to open further as recovery develops • Wage increases move ahead of welfare rates • Opened huge poverty gaps in the early 2000s • % increases versus nominal increases • Need for broad-based recovery with benefits to all • these are likely to be slowly delivered • benefits does not just mean € • Now is the time to plan to avoid past mistakes

  10. Minimum Income Schemes in Ireland:a context Round Table: Action Plan for Adequate Income 7th October 2014 Dr Micheál Collins NERI (NevinEconomic Research Institute) Dublin mcollins@NERInstitute.net @ MLGCollins www.NERInstitute.net

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