Dr. Barra Roantree:

I will address the second point first. It is a very important issue and recent ESRI research has been pointing towards the issue. On average, pensioners have lower rates of poverty than other ages groups but there is an issue with those who live alone and who are the single pensioners. We published a report a few months ago that showed that, at the turn of the millennium, almost one in two pensioners were in poverty and it was only the sustained policy action over the 2000s in increasing the State pension that brought the figure down to where they are the age group with the lowest poverty levels.

With regard to the policies that are well targeted towards the cohort of single pensioners the Deputy is worried about, the living alone allowance is a very effective means of giving income to those people. The Government has increased the living alone allowance in budgets in recent years. This was explicitly linked to some of the ESRI research that was done highlighting that. The instrument on the adequacy of pension levels is, ultimately, a matter for political decision. There may be a need to look at it. I believe that the Pensions Commission is looking at the issue of balance between a pensioner who lives on his or her own and a pensioner who is part of a couple.

On the capital acquisitions-----