174. Deputy John Clendennen asked the Tánaiste and Minister for Finance his long-term strategy for ensuring the sustainability of public finances given the demographic pressures outlined in the Department of Finance's Future Forty: Ireland's Demographic Outlook, which projects an increase in the old-age dependency ratio from 23.1% in 2022 to 55.2% by 2065; and if he will make a statement on the matter. [69735/25]

Sentiment score: 0.10

I agree with the Tánaiste that long-term forecasting models are very welcome. When we look at some of the measures we have introduced already, like the Future Ireland Fund and saving for days of pressing future financial demands, the question is whether we are doing it at a fast enough pace. Regularly, in this Chamber, we hear negative connotations and associations concerning migration. This report is very clear regarding our dependence on growing our labour force and economy, and who is going to play a vital role in ensuring that materialises. When we see a forecasted increase of 2.5 times in the old-age dependency rate in the next 40 years, it is startling to think of what we will have to do in this space in the coming years. I ask the Tánaiste to commit to publishing a clear, multi-annual demographic and fiscal strategy so we can continue to monitor this on an ongoing annual basis.

Sentiment score: 0.38

One point in relation to funds is that the strength of deposits in Ireland on a domestic and international basis must be noted. The registration of auto-enrolment on 1 January is a big step forward. It is certainly welcome. Given the objective that it is set to achieve, it is going in the right direction. I have one ask. There is an element of apprehension, particularly among small businesses, about affordability and viability in this space. It is something we will have to monitor very closely in order to protect small businesses. I made the point at committee yesterday that there is now a situation where small businesses on high streets and in small villages are competing with multinational corporations. We need to get the balance right with regard to the demands. Nonetheless, it is definitely a worthwhile initiative. We also need to ensure that people who want to work later in life can do that and be rewarded for it, from a financial need or social well-being perspective. Those are initiatives that we need to look at as well.

Sentiment score: 0.22