Oireachtas Joint and Select Committees

Wednesday, 27 September 2023

Committee on Budgetary Oversight

Pre-Budget Engagement (Resumed): Ministers for Finance and Public Expenditure, NDP Delivery and Reform

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

While we are seeing inflation fall and the environment change in that respect, I do not believe the changes in the inflationary environment and, in particular, the price levels people are seeing warrant our going from the level of support offered through one-off measures last year to zero this year.

That is where the Government and I disagree with the council. We believe that some additional temporary one-off supports are warranted because we are on a journey of inflation falling but price levels remain elevated. That said, we do also have to be conscious that inflation is falling. We do not want to push inflation back up. We want to allow inflation to fall because that is in everybody's interests. That is why the package of temporary one-off measures that we will bring forward on budget day will be of a lower magnitude. We think that is appropriate and warranted. In so far as we possibly can, we will target much of those resources at those who need it the most.

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