Louise O'Reilly (Dublin Fingal West, Sinn Fein)

Yes, but there are nine minutes left so we will have three each. I probably will not even take that. I want to use my words to conclude. I think there might have been too much time put up, but we can only go with what is on the clock.

In short, the Government's scheme for auto-enrolment is unfortunately and regrettably a missed opportunity. That it did not take our suggestion to task the NTMA with managing the fund is a missed opportunity. It would have been a chance to put in place secure renewable infrastructure that would make a real and meaningful difference to people who are paying some of the highest electricity bills in Europe. It would have been a chance to invest in social and affordable housing, which would have made a real difference to people who are paying some of the highest rents in Europe. It would have ensured that workers now would not have to pay into a fund they know will be a €1 billion-plus bonanza for the private sector.

The working poor in this State are already put to the pin of their collar. What they hear from the Government is they are going to have to pay more because it is putting up the carbon tax, meaning it will cost more to drive a car even though there is no bus coming. They are going to pay more just for the privilege of living in a house. They are going to have to pay more for groceries, which have gone up by about 30% in the last number of years and now there is another bill. I am sure the Minister can appreciate that people who are on or close to minimum wage, whom we could refer to as the working poor - a phenomenon created by the policies of successive Governments and one which we should not, but do, see in a relatively wealthy state - wonder at the timing of this. They see the memo that went to Government, they know the motivation, they see big business will benefit and they scratch their heads and ask themselves what is in this for them, other than the capacity to maintain their status as people who are barely getting by in the face of exorbitant rents. There is a cost-of-living crisis. Workers need a hand up. They need a break and a cost-of-living package. They need to make provision for their retirement but this is not necessarily the right way to do that. I qualify my remarks, as I did at the start, by saying I am someone who believes in decent pensions and I am the daughter of somebody who believes in decent pensions, but that is not what this is.

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