Alice-Mary Higgins (Independent) | Oireachtas source

It is broadly acknowledged that there have been problems with the rules. To be clear, it is not a simple matter of public expenditure that caused the crisis. It was speculation. Part of it is areas of the economy being left in a space for speculation, which can prove to be expensive and inflationary. We have seen, for example, significant inflation in respect of housing costs that is not solely driven by construction costs and so forth but has been driven by the fact that the market is so significantly exposed to speculative interests. We are seeing that again. It is very important that we be vigilant in respect of these issues. I do see that opportunities may have been lost. Social cohesion has been damaged across Europe and that is why the Recovery and Resilience Facility and all these additional funds were created, because a lot of countries were significantly depleted, for example in respect of their public services on health. There is very clear impact. The leasing example I have given is a very clear and direct result which has had an inflationary impact in respect of housing and construction.

I want to pull in to the details of what is actually being debated now.