Dr. Thomas Conefrey:

We have an updated version of the calculation in this report. For 2018, we identified an extra €600 million in pressures on top of what the Government parties have allowed for to fully accommodate demographics and prices. The vast majority is to accommodate price pressures. Given half of the €1.2 billion is eaten up by the carryover costs of the measures in budget 2017, that leaves approximately €600 million and we estimate that all of that will be required to keep pace with inflation.