Professor Karl Whelan:

Sure. On the specific topic of inflation, it is worth emphasising that the carbon tax, which I think is largely what the Deputy is referring to, will be only a very modest contributor to energy price inflation. The Department of Finance's calculations are that the change in the carbon tax introduced in this budget would add about €1.50 to a 60 l fill at the pumps. Everyone knows how much it costs to fill up but I know that the cost of filling my car has been going up an awful lot more than that in recent months. The major contributor to higher energy prices has been global events. The carbon tax is a relatively small contributor to the current rise in the cost of living.