Oireachtas Joint and Select Committees

Wednesday, 4 May 2022

Committee on Budgetary Oversight

Stability Programme Update 2022: Minister for Finance

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I criticise the fact that the Minister increased the price of home heating oil. That impacts people on fixed incomes and people more widely. I believe the Minister could do more about petrol and diesel prices. They are broad measures. If I brought in a package, some measures would be broad and some would be targeted, such as rent relief. I would bring in a social welfare package that would match the levels of inflation we are seeing. It is not a case of having just one or the other, but there is also a need for targeted measures. The energy crisis is one issue that is increasing inflation and is turbocharged by the war in Ukraine. Many commentators are predicting that we may enter a prolonged period of high energy costs, outside of the war in Ukraine, because of the transition towards a green economy with non-carbon sources of energy, and that this may be the future for energy prices. What are the Department's projections on that? Has it done work on future energy prices?

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