Households with children hit most under austerity

Households with two adults and children have suffered the most under austerity measures introduced in successive budgets since the downturn in the economy in 2008.

A study by the Economic and Social Research Institute shows that families with children have experienced almost a 12% decrease in income over the past four years. In contrast, a single, retired person has only seen a 1.6% reduction in their income over the same period.

The ESRI research also reveals that people on low income suffered a disproportionate reduction in their earnings than those on high incomes in the last budget.