Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Stripping the one-off payments against headline inflation of 11.4%, just under 8% in permanent measures is the relevant figure. The impact of the one-off measures is approximately 10%. The one-off measures matter. That €200 or €400 that people are getting is every bit as valuable as an increase in their core social welfare rates. It is money.

I will make the following point lightly because the Deputy and I have debated it before and the night is old. There is a further argument for not spending the surpluses we have, which is that I am absolutely certain a point will come when that surplus will not be there anymore. I am certain of that because so much of it is driven by corporate tax. All the work the Department of Finance has done, which the Minister, Deputy Michael McGrath, is driving on, has shown how much of that is at risk. I am forever struck by the inconsistency that there is no fiercer opponent of global capitalism than the Deputy but he is willing to spend the benefits of it.