The cost-of-living crisis has not ended, because it never begun in the first place according to the CEO of IBEC.

On Newstalk Breakfast, IBEC CEO Danny McCoy said that the increased cost of living cannot be called a crisis for most people.

“It's not to say that we haven't experienced the cost of living going up,” he said.

“It's this notion of deeming the crisis which I think does a disservice to those who actually are in crisis.

“When you stand back from it, the average disposable income in Ireland has actually been growing in line ahead of the inflation – particularly the last decade, but even in the last couple of years – because we have actually been compensating for those elevated costs.”

Euro money coins and banknotes with payment bill

Irish Examiner columnist Fergus Finlay fired back at this assertion.

“When you look at the cost of rent, when you look at the cost of energy – when you look at the impact on a fixed pension of inflationary increases in energy – there is absolutely no doubt that there is a cost-of-living crisis,” he said.

“What really is needed is that targeted resources be directed where they're needed.

"They need to be sustained long term resources – but that doesn't minimize the fact people really are suffering, and they're suffering across the board.”

Overlooked needs

According to Mr McCoy, labelling the situation as a crisis for everyone means that the issues of those most in need are overlooked.

“In the current election, where people are talking about a crisis as it applies to everybody, I was making the point that it’s not a crisis for most,” he said.

Mr McCoy said that labelling the situation a ‘pan-crisis’ does a disservice to those actually living in crisis.

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