Mick Barry (Cork North Central, Solidarity) | Oireachtas source

The Taoiseach would have people believe that all the price increases are down to the pandemic and the Russian invasion of Ukraine, but the reality is that quite a few of them are down to profiteering here on the home front. Bord Gáis is increasing gas prices by 39%. Its parent company made a profit of more than €1 billion last year. The price of food goes up and up, but so too do retail profits. Tesco made £1.7 billion in profits in Britain and Ireland the year before last. The landlord class, who may well not have a word of Russian between them, jacked up rents at a rate equal to 10% per annum in the fourth quarter of last year.

What can the Government do about the cost-of-living crisis? I will tell the Taoiseach four things that can be done here and now. First, the Government can tell the ESB, which is a State-owned company, that 25% increases are just not on. This company made nearly €700 million profit last year. Tell the ESB it can break even this year - no more, no less - and that the profit margins can be used to at least freeze prices, if it cannot actually cut them. Second, the Government can send a cheque to households to ensure they can ride this crisis out. How much per cheque? I would suggest €2,000. How should we pay for it? By introducing an emergency 2% tax on the wealth of every millionaire household in the country. Allow them €1 million for their primary residences. I am talking about the €1 million on top of that. The tax would apply to the richest 5%. That would more than cover it. I will give the Taoiseach the maths if he wants me to.

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