Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

First of all, I dispute the Deputy's presentation of the facts, or the facts as he puts them and the position he is adopting here. The Government is very committed to protecting people against the cost-of-living increases. Last year we provided €12 billion to cushion the impact of rising prices on households, businesses and farmers. The Economic and Social Research Institute, ESRI, which I note the Deputy did not quote, found that once-off measures announced as part of budget 2023, combined with the core increases, insulated most households from rising energy prices last winter. The lowest four income deciles were cushioned against the inflationary spiral last year by the measures we took, namely, the combination of core social protection measures, public service pay agreements, tax relief and the once-off payments. These are ESRI data, not my data. It is our intention in this budget to continue to cushion people because next year, living standards will rise above inflation. Inflation is on a downward trajectory over the next 12 months and when the various measures we will take with pay, tax relief and so on are combined with that, it is our projection living standards will increase.

The Government's commitment is to a fair budget. It is fair to workers. We need to be fair to those who are out there working through the tax measures we will adopt and other supports we can and will provide both in terms of a once-off cost-of-living package married to measures for those on social welfare - protection measures to enable them to come through this winter. There is no question certain prices are high and people are under a lot of pressure.

We have record investment in housing. We have very high revenues coming in. They are tapering a bit. That is not Government cushioning or managing expectations, as the figures speak for themselves with respect to corporation tax. We still have very healthy corporation tax and healthy income tax coming in. These are all signs of a buoyant economy, because we have full employment. I suggest respectfully the measures Deputy Boyd Barrett is proposing more generally in the economy would, over time, undermine the employment story in Ireland. He is anti-enterprise, clearly. He does not believe in a free market economy. He does not believe enterprises should make profit. I am talking even about small- to medium-sized companies.

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