Seán Kyne (Fine Gael) | Oireachtas source

It goes without saying we are living in times of unprecedented challenge and upheaval across the world but especially here in Europe. I refer to the tragic loss of life and the impact of the illegal war in Ukraine as well as the suffering and plight of people and the number of them who have had to leave their homes and seek refuge elsewhere. This is of course having an impact on Ireland and all our citizens.

The main drivers of inflation are commodity and energy prices. Oil is up 40% on average since January and gas was up 60% compared with the average January prices. The cost or raw materials, such as those needed in construction, has increased. In agriculture, we know of the increases in the cost of fertiliser and the fuel costs affecting the sector too. These factors are impacting on the cost of living for all our citizens.

The Government has responded. Prior to this becoming a major issue the Government acted by increasing the standard cut-off rate for a single person by €1,500, by raising it from €35,300 to €36,800.There was a €50 increase in personal tax credits and a remote working deduction of 30% of vouched expenses for heat, electricity and broadband. All of those measures are positive and do help. In February, we also saw the energy credit increase to €200, including VAT, and the fuel allowance lump sum payment of €125, the drug payment scheme reduction to €80 and a 20% reduction in public transport fees. In March, the excise rates for petrol and diesel were reduced by 20 cent and 15 cent, respectively.

We must continue to keep the cost-of-living impact under review. I am asking for an early debate on this area with the Minister for Finance and other relevant Ministers. We should provide time to discuss this very important issue, which affects all sectors of society, from businesses and households to elderly people and farmers. The electricity or gas element of the household benefits package has been €35 per month for some time. Increasing it by €5 would equate to a €60 annual increase for the 476,000 householders who benefit, at a cost of €29 million. This would be a positive step, particularly for those over the age of 70 who are facing particular cost-of-living challenges. I can only hope and pray that we have decent weather this year but we have no control over that. I hope we do not have cold spells and wet weather for silage harvesting, saving hay and the harvest in the autumn. That would be detrimental in what is already an expensive and challenging year for farmers. I ask for an urgent debate on the cost of living after the Easter break.