Aindrias Moynihan (Cork North West, Fianna Fail) | Oireachtas source

I thank the witnesses for the report and the overview. I would like to tease out a couple of matters. As we put Covid-19 behind us and look forward to greater activity and a bounceback, I highlight the fact that we witnessed a rapid rally in some areas when restrictions were eased late last year. Is it expected that there will now be a similar rate of bounceback and economic growth? I ask that because many sectors will have found it very difficult in the last year. While they might have been able to come back fast the last time restrictions were eased, businesses in those areas will have now eaten into their reserves and they will be expecting to struggle this time. What kind of bounceback is expected this time? Are the witnesses able to put some kind of figure on it?

Continuing supports are needed in other areas, especially hospitality and entertainment. These sectors have taken a pounding and may struggle much more to get back up on their feet. When the Irish Fiscal Advisory Council refers to maintaining these supports, does it mean providing the same kind of support on the same scale? What reduction does it envisage and what would be the focus of that? Mr. Barnes said he expects supports to extend into 2022. Would supports be at the same level?

Not every sector took a hammering during Covid. Some did well and personal savings are growing. This raises different questions. There is greater inequality between people who have been under pressure and those who have not. Where will those savings go? Has IFAC assessed such issues? Is it expecting savings to be spent in Ireland or will they flow out of the country when people get a chance to travel and take holidays? Has IFAC assessed how this might develop?