Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Mr. Barnes mentioned the welfare system. To date, since the start of the year we have not seen an increase in core social welfare working-age payments. In order to be in line with the average inflation rate that we are likely to see over the course of the year, predicted to be 6.2%, those rates would need to increase by €7.50. Would that be the type of targeted measure that would not risk second-round effects on inflation? Is that the type of approach that the council is suggesting?

On the quantum of interventions, if they were targeted, what level of space is available?

Mr. Barnes spoke about the unallocated resources of €2.5 billion, and that a portion of it may be used for Ukrainian refugees. The assessment by the Irish Fiscal Advisory Council, IFAC, is that not all of this will be needed. The council also recognises an improvement in balances. This is probably an improvement even from where the stability programme update, SPU, suggests our deficit would be at the end of the year. In Mr. Barnes's view, what quantum of fiscal space is available at this point in time?