More than a third of Ireland's income is in the hands of the top ten per cent of earners.

That's according to Tasc, which is warning the country will move closer to the same levels of inequality as that seen in the United States, unless action is taken.

The social change think-tank says Ireland is the most unequal country in the EU when it comes to income distribution, before taxes and social welfare are included.

Dr Nat O'Connor, who contributed to the report, says there are worrying signs: “Addressing economic inequality is important because we know that more equal societies perform better on a whole range of indicators such as crime, health and educational attainment. More equal societies are also more stable and have better chances of stronger and sustained economic growth.

"High concentrations of wealth and income can lead to disproportionate political power, and so more equal societies are better able to promote democracy and ensure the public interest is safeguarded in public policies.”

Co-author, Cormac Staunton said that the notion that that economic growth will tackle inequality is a myth: "the instability of Ireland’s property-based growth in the 2000s and the increasingly unequal distribution of the benefits of our current prosperity show that growth alone will not reduce inequality. We need robust policies that will ensure prosperity is more widely shared across society.”