Across Ireland, families continue to suffer the effects of what the media are now terming a ‘cost of living crisis’, otherwise known as capitalism.
The cost of oil, gas, electricity and more continues to rise sharply across the country with suppliers reaping massive profits in return. To highlight the issue, Lasair Dhearg activists have targeted an advertising hoarding in Belfast. The Phoenix Natural Gas advertisement near the city centre now reads ‘Big Bills = Big Profits’.
In the Six Counties, the two gas providers and six electricity networks have all increased their prices in the past year, some several times, massively increasing the costs for families
SSE Airtricity has announced a 42.7% increase in gas prices from 1 July – a move which will hit 186,000 homes and comes on top of a 33% hike in the company’s electricity prices which came into effect on Wednesday. This is the company’s fourth increase in gas prices in just 15 months. It follows a 39% rise in April 2022, a 21.8% rise in October 2021 and a 9.8% rise in April 2021.
The latest figures from Eurostat, the EU statistics agency, show that electricity prices in the Twenty Six Counties are the fourth highest in the EU at around 26% above average – gas prices are around the eighth most expensive in the region.
However when you strip out the effects of taxation, electricity prices in the state are actually over 50% above the EU average and are the most expensive in all of Europe.
Across the board families are now finding it increasingly difficult to pay for rises in home heating oil, coal, electricity, grocery, and transport fuel costs. This is particularly bad news for those in vulnerable situations and low-income households. It also means a wider group of households than before are having their budgets stretched ever further.
Neither failed state in Ireland can resolve this issue as they are so firmly wedded to the capitalist economic system. The people of Ireland can expect more of the same in the years to come.
Under a 32 County Socialist Republic all natural resources will be brought under state control and used for the common good.
Join the fight for a Socialist Republic, Join Lasair Dhearg: https://www.lasairdhearg.com/join
