Richard Boyd Barrett: Slams 'profits bonanza' amid cost crisis
Richard Boyd Barrett criticised the government's budget and its handling of the cost-of-living crisis, calling measures insufficient and harmful to the poorest. He detailed rising prices, cuts to disability supports, and soaring corporate profits, and urged mobilisation including a September 28 demonstration.
Rising costs and statistics
He cited sharp price increases across the economy - prices up 23% in five years, food prices up 5% in the last year, electricity prices 24% above the EU average, electricity company increases of 10% in the last year, gas prices doubled in five years, house prices up 8.1%, Dublin rents averaging €2,100 and rents up 40% in six years, motor insurance up 17%, and other rising charges including tolls and local property tax.
Impact on vulnerable groups and poverty projections
He said the budget made conditions worse, pointing to the Parliamentary Budget Office finding that general poverty will increase, child poverty could rise to 15%, poverty among the elderly to 17%, and the poorest 20% will see their incomes fall. He highlighted 190,000 children in poverty, 298,000 people in arrears on electricity bills, record numbers seeking help from St Vincent de Paul, and cuts that removed €1,400 from people with disabilities.
Corporate profits and tax giveaways
He contrasted that hardship with a surge in corporate profits - profits up 300% between 2013 and 2023 - and listed company results cited in the speech, including Tesco, SuperValu, ESB, Cairn Homes and Glenveagh. He criticised a €300 million research and development tax giveaway in the budget that he said mainly benefits profitable multinationals and shareholders.
Critique of government priorities
He argued the government is prioritising big business and profits over working people, pensioners, students and those with disabilities, saying growth has not been translated into affordable housing, food or energy for ordinary households.
Calls to mobilise and protest
He urged mobilisation behind Affordable Ireland's campaign, noting a demonstration planned for 28 September where people with disabilities will demand a winter payment and a cost of disability payment. He described that demonstration as the beginning of wider action against the government's policies.
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Minister, listing off the crumbs that were given out by the Government to those who are being absolutely crushed by the cost of living crisis in this country is utterly meaningless. And as the motion, and I thank Deputy Healy for putting forward this motion, which People For Profit are very strongly in support of, as it details the assault on the cost of living for working people, for the least well-off, for people with disabilities, for pensioners has been absolutely crushing and is detailed in the motion. Prices up 23% in the last five years. Food prices up 5% in the last year. Electricity prices are 24% higher in this country than the EU average. Electricity companies have announced 10% increases just in the last year. Gas prices have doubled in the last five years. Average rents now in Dublin, €2,100 and rising and set to rise even further with your residential tenancy's rent hike bill. House prices up 8.1%. Rents have gone up 40% in the last six years. Motor insurance premiums up 17%. Toll charges up. Local property tax up. Student fees up. Child care fees still continue to be a second mortgage for those that have to pay for them. I could go on. People are being absolutely crushed. And it's not just us that is saying it. The Parliamentary Budget Office confirmed that your budget made it worse. And that general poverty will increase as a result of your budget. Child poverty will increase to 15%. Poverty among the elderly in this country will increase to 17%. And that the poorest 20% of the population will see their incomes fall. We have record numbers of people contacting St Vincent de Paul looking for assistance with the energy bills that they can't pay. Child poverty at shocking levels. 190,000 children suffering child poverty. I could go on with the horrible list. 298,000 people in arrears with their electricity bills. Now, you see, that's a litany of what is being done to working people, people with disabilities, who lost, by the way, according to their own assessment, and this is the reason they're going to be on a very angry demonstration on the 28th of September, lost €1,400 as a result of the cuts in one-off payments, emergency payments and so on. Your failure to deliver a cost of disability payment, they're going to be on the streets demanding the winter payment and demanding a cost of disability payment. Incredibly, you took €1,400 off them in the budget. Absolutely shocking. But what is the other side of the coin to these attacks on the vulnerable, the least well-off and working people? It is a profits bonanza. Profits in this country between 2013 and 2023, up 300% corporate profits. Tesco profits last year, €185 million, up 54%. Super values profits, €134 million last year, up on previous years, and big dividends paid out to shareholders. ESB profits in the first half of 2025, €424 million, up on the previous year, which was also a record level of profits. Cairn Homes, €150 million in profits, up 32% on the previous year. Glen Vey, €132 million in profits, up 86% on the previous year. So, the cost of living misery suffered by working people, by pensioners, by those with disability, by students, is being caused by a government that is prioritising the profits of people in people who are actually benefiting from all this. And in the budget, for example, you give out €300 million extra in tax giveaways, in just one tax giveaway in the research and development grant, mostly going to massively profitable multinationals. So that is the priority of the government. Look after the rich, look after big business, look after those making profits, making profits, whose incomes are made from dividends while screwing working people, the least well off, people with disabilities, students and the vulnerable in our society. And that is why we are saying that we need to mobilise, while the demonstration of the 28th is so important, and is only the beginning of Affordable Ireland's campaign to mobilise against this government and demand that the benefits of the economic growth in this country in terms of housing, food, energy prices, incomes that actually sustain a decent standard of living people become the priority.
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