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Ensuring Adequate Income: Insights on Minimum Income Schemes in Ireland

Dr. Micheál Collins from NERI presents an action plan for adequate income in Ireland, discussing income distribution, austerity impacts, and recovery strategies. Learn from the past to prioritize fair recovery in Budget 2015.

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Ensuring Adequate Income: Insights on Minimum Income Schemes in Ireland

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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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