Economic pressures impact household spending in Northern Ireland and Ireland

Recent data highlights significant economic challenges for households in Northern Ireland and Ireland. In Northern Ireland, Asda’s quarterly Income Tracker reveals that families have the lowest discretionary income in the UK, with only £137 remaining per week after essential bills and taxes. This follows a sharp rise in liquid fuel prices, which increased by 104.9% in the year to September. Because many Northern Irish households rely on oil for heating and are not covered by the Ofgem energy price cap, rising fuel costs continue to squeeze spending power.

In the Republic of Ireland, research conducted by Civio indicates that minimum welfare payments are insufficient to prevent poverty. The study found that payments for single unemployed individuals, such as jobseeker’s allowance, sit at approximately €254 per week, which is 37.8% below the national poverty line. While Ireland ranks seventh in the EU for the buying power of its welfare payments, the analysis notes that single people remain below the poverty threshold, with children in households relying solely on state support nearing extreme poverty levels.