Households continue to struggle under one of the most pressing cost-of-living crises in a generation. In this rip-off republic, Irish living standards have fallen further behind other European countries, with people ripped off by extortionate energy bills, high housing costs and food prices. Our economy is not working for ordinary people. We have a hotel in Dublin city that is charging €1,000 for a room on the night of the Taylor Swift concert. We have the second-highest energy prices in the European Union, and while energy prices have dropped significantly across Europe, our energy bills remain sky-high, despite a massive drop in wholesale prices. Therefore, it is no surprise that the European Commission confirmed last week that this State is the most expensive place to live in the European Union. We know from the Central Bank and even the IMF that profits were the biggest driver of rising prices last year. What is the Government going to do to tackle rip-off prices that have contributed to the biggest cost-of-living crisis in a generation?

There are a large number of things that we have been doing to help people with the cost of living. The Deputy will know, for example, about the energy credits, the reductions that we have done on VAT and excise, and the additional welfare payments we have made. Of course, through the Competition and Consumer Protection Commission we are making sure there is proper competition in the sectors. We are also introducing a windfall tax on the excess profits of energy generators and the fossil fuel industry.