Paschal Donohoe (Dublin Central, Fine Gael)
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Because inflation rates have decreased, there is definitely a strong argument, which I make, that the scale of the cost-of-living measures should reflect the fact that inflation has fallen so much. Just because inflation has decreased does not mean prices have done so. Prices have increased. We are all aware in all of our budget deliberations that even though on a macro level our economy is going well, people on fixed incomes have seen prices increase by one fifth in a couple of years. This is having a big impact on their lives. We are well aware of that.