Northern Ireland’s lowest earning households have seen their spare cash cut in half to just £24 a week, new figures show.
The Consumer Council research found that the ‘discretionary income’ of the households, defined as the bottom 25% of the population, has been reduced by 46.1% compared to the same time year.
The money left after bills are paid is now down to £24.41, for the quarter April, May, June, from £45.32. The Council defines the spare cash as the money left each week “after bills and living expenses”.
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These figures come from the Consumer Council’s latest Northern Ireland Household Expenditure Tracker, which is published on a quarterly basis and tracks the “changes to income and expenditure for the lowest earning households here”.
The Tracker shows that in Q2 2022 Northern Ireland’s lowest earning households:
*saw their weekly income after tax rise by £2.80 (1.2%);
*experienced weekly spending on basic goods increase by £7.25 (3.6%);
*spent 53% of their total basic spending on rent, energy, food and transport;
*saw their discretionary income fall for the 5th consecutive quarter.
Noyona Chundur, Chief Executive of the Consumer Council, said: “Our Household Expenditure Tracker quantifies the reality that our lowest earning households are currently facing. The lowest earning households in Northern Ireland now have less than £25 to spend per week after their bills and living costs.
"In releasing this data, we hope that it will help Government, policy makers, and organisations to develop targeted solutions and interventions to help all consumers in Northern Ireland.
“The Consumer Council offers a variety of help, support and advice to help consumers understand ways to save money and shop around, and what options are available if they are struggling to pay their bills.”
The Council says consumers can visit www.consumercouncil.org.uk to view a range of interactive tools including an Energy Price Comparison Tool, Petrol and Diesel price comparison tool and Home Heating Oil Tracker, and resources including its Cost-of-Living Hub.
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