Liberty View: Wage increases are good for workers and the economy
SIPTU members across the economy have experienced nearly two years of uncertainty and in many cases tragedy as we have dealt with the impact of the Covid-19 pandemic. Next year offers the possibility of progressive change for workers and their families.
The focus will be on pay rises that will compensate for the rise in costs for working families due to the continuing housing crisis and energy price increases. Indeed, SIPTU section committees have been concluding locally bargained pay deals across the private sector throughout the pandemic.
The most recent advice from the Private Sector Committee of Congress and the Nevin Economic and Research Institute, is that trade unions should seek pay increases in the range of 2.5% to 4.5% in the coming year. Central Bank research has shown that rising energy prices is the main cause of rising inflation in Ireland, with an increase in the cost of services also a major factor, and that this situation is likely to continue into 2022.
Workers in the private sector of the economy make a significant contribution to the profitability of the firms in which they work.They deserve to have a share in the wealth that is generated as a result of their labour.
It is recognised that collective bargaining is the most effective way of bringing about wealth re-distribution which leads to improvements in national and local economies. For this reason, SIPTU representatives across the private sector will be seeking decent, fair, and sustainable wage increases during 2022.