Mairéad Farrell (Galway West, Sinn Fein)
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NERI's opening statement and Dr. McDonnell's comments around the cost of living issue being tackled in different ways, such as through the provision of subsidised childcare, an increased supply of affordable housing and subsidies to public transport, are interesting. We know that by comparison with other European countries, Ireland tends to be a lower spender when it comes to the subvention of those areas. It is estimated that the cost of indexing a long-run price inflation of 2% and long-run wage inflation of 3.5% would be around €750 million and €1.3 billion, respectively. If we chose to tackle the cost of living through the method of subsidies for childcare, affordable housing and reduced costs for public transport, what would that €750 million and €1.3 billion mean for us in terms of increased subvention?