ESRI says Budget 2015 hits poorest hardest amid ‘two tier society’ fears

The poorest in society have been hardest hit by the latest budget, according to a report by the Economic and Social Research Institute, sparking fears that society could be destabilised by a growing gap between rich and poor.

In a special article on the impact of all budgets between 2008 and 2014, the ESRI found that the so-called squeezed middle has been squeezed — but not by as much as other sectors of society.

Across those budgets, the top 10% of earners have seen the greatest losses, at 15.5% — just ahead of the lowest income group, which has experienced an almost 13% loss in income in the same period.