Neasa Hourigan (Dublin Central, Green Party)
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I thank Professor Whelan for that response. I read both our guests' submissions with great interest. In fairness, we have covered many of the issues they raised. Could either of them outline in greater detail, as I am a layperson and not from an economics background, the relationship between Government capital spending and inflation? Obviously, I understand as inflation rises, our capital commitments will bear the brunt of inflation just like anybody else’s spending commitments. Is there a possibility of the opposite effect whereby capital expenditure can increase the risk of further inflation. Could they outline that for me? Who would like to take that question?