The Parliamentary Budget Office (PBO) has laid bare the stark reality facing our most vulnerable citizens: the government’s decisions in the budget are set to increase poverty rates, according to Social Democrats finance spokesperson Cian O’Callaghan.
Deputy O’Callaghan said:
“The Budget 2026 Flash Impact Analysis report, published this morning by the PBO, found that income poverty rates are forecast to rise from 11.7% to 13.2% nationally in 2026.
“It is particularly alarming that poverty rates among children are projected to rise from 15.3% to 16.1%, and rates for the elderly will increase dramatically from 13.3% to 19.0%.
“It is unfathomable that the government chose to award multinational companies and property developers millions in extra profits while allowing more children to fall into poverty.
“These are not just statistics – they represent real lives and real struggles.
“The Social Democrats have a different approach, one which prioritises helping those that need it most – in our alternative budget, we proposed a second tier of Child Benefit that would lift 40,000 children out of poverty and significantly reduce the gap below the poverty line for most others.
“We also budgeted for a €15 increase to pension payments that would begin to close the gap between welfare rates and the minimum amount needed to achieve a decent standard of living.
“These solutions, sadly, fell upon deaf ears – our most vulnerable are set to suffer as a result of a budget devoid of ambition or compassion.”
October 8th, 2025