Cathal Crowe (Clare, Fianna Fail) | Oireachtas source

I will address some points made by Deputies Bríd Smith and Gary Gannon. It is like Sesame Street economics. There is not enough money being given out and Deputy Gannon said we should tax more and the same points were made by Deputy Bríd Smith. She specifically targeted the pharmaceutical companies we are so reliant on now, not just for vaccines, but for our entire economic structure as we face down a pandemic and the economic ravages it has brought. It is reckless to come into this Chamber and speak like that and to talk about splurge spending on one hand on top of what has been the greatest ever expenditure in a budget of €18 billion.

I very much welcome the Bill, which gives effect to the social protection measures announced in budget 2021. Most crucial for my party, Fianna Fáil, is that one of the issues we pushed strongly on in the election campaign was the pension age. It was planned to raise this on 1 January 2021 but this has been deferred and it will remain at 66 years. The planned increase from 67 to 68 years, which was scheduled to happen on 1 January 2028, is also being repealed in this legislation. It means the commission on pensions can sit down to properly investigate the situation and come up with proper solutions. I hope the pension age will remain for the considerable future at the age we have set it at now. I am glad regulations have been brought forward so that 65-year-olds who choose to retire early will receive an early retirement allowance or pension. This Bill targets people who are living on their own and who have probably felt the effects of Covid more than anyone.

I acknowledge the huge expenditure in this budget. In particular, while the core rates of social welfare have not changed, the fact remains that the expenditure in the Minister's Department is 41% up this year. That is evidence of the job losses and temporary lay-offs that have been brought on by Covid, but also of the positive reaction by Government to step in and ensure things do not go to the wall.

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