Chairman:

I thank the Minister. Before I turn to the first questioner, Deputy Brady, I wish to mention that the committee has submitted a number of reports. The Minister commented on them and mentioned how she would welcome the committee outlining a number of priorities. Some of those priorities are contained in the reports. She will get more detail in a moment.

I wish to ask the Minister two questions that may help the committee in future. The Minister set out the Government's fiscal space and mentioned how much it would cost to grant €5 across all heads. On the other hand, she did not say what savings might be inherent. For example, she mentioned at the outset the reduction in unemployment. One must add that into the equation. If she has those figures, they would be helpful to the committee. It is not just a question of more expenditure. Are there inherent savings that will accrue that should be considered in the process? I will revert to the Minister on that point in a moment.

One of the reports that we published was on the issue of pensions, with which the Minister is familiar. She and the Minister before her, the now Taoiseach, clearly indicated that there would be a move away from an annual average pension system to a total contribution one. Our committee examined that matter, reported and made a number of recommendations. One of those recommendations had to do with the cohort of people - primarily women, but not exclusively - who had been caught in the transition and were now on a scheme that was introduced in 2012. Effectively, they are receiving significantly lower weekly payments than they would have had they qualified for pensions a number of years ago. The problem is that they had no control over the situation. They got to pension age and this is where they are now. Someone with an annual average of 25 contributions would, under the old system, have received €233 per week. Now, that person is getting €202. There are substantial differences.

The committee's recommendation was that the 2012 change should be suspended and people should revert to the old system until the new total contribution system was introduced. This is not just about the amount of money, but equality and the fact that the cohort of people who were caught had no other option. The Minister might try to address this matter in her response.

For the rest of the meeting, I will allow two members at a time to put their questions so that we can get detailed answers.