Cost of living in Ireland higher than Eurozone

A new survey confirms the cost of living here is higher than most of our European neighbours.

Ireland is ranked at number 20 on an index comparing purchasing power in 50 different countries.

The study by Mercer Human Resource Management examined the average salaries of senior managers in 50 countries.

It calculated their purchasing power based on tax and social security deductions and the local cost of living.

Those in Hong Kong scored highest in terms of purchasing power with Switzerland, the USA and Canada all in the top 10 and Ireland in 20th place behind Britain, Spain, France and the Netherlands.

According to Mercers the higher cost of living and relatively high taxation is to blame for the poor purchasing power here.