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Rising cost of inflation – the winners and the losers

As wages barely budge and workers struggle with rising prices and the ongoing impact of the pandemic, corporates are posting record profits

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While the tax windfall debate hasn’t started in earnest here yet, Oxfam is calling for a 10pc one-off tax on excess profits of energy firms

While the tax windfall debate hasn’t started in earnest here yet, Oxfam is calling for a 10pc one-off tax on excess profits of energy firms

Jim Clarken, CEO of Oxfam Ireland. Photo: Tom Burke

Jim Clarken, CEO of Oxfam Ireland. Photo: Tom Burke

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While the tax windfall debate hasn’t started in earnest here yet, Oxfam is calling for a 10pc one-off tax on excess profits of energy firms

Consumers are feeling the squeeze from inflation, from the supermarket and the petrol pump to escalating bills for electricity and heating. Indeed, household budgets – especially among lower-to-middle income earners – are taking a hit as consumer prices run at a 22-year high of 7pc.

But inflation has been proving a very different story for a fortunate few in the economy: large Irish corporates in sectors ranging from food manufacturing and energy to mining.


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