Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The key question is whether the Minister is determined that the income from the pension levy and the cost of the various initiatives under the jobs initiative will total zero and even out. It is very clear, based on the figures provided by the Department, that it is not the case so far, unless a policy decision is taken in another direction. The gap has increased because of the additional revenue from the pension levy which is linked, as the Minister indicated, with some recovery in equity values. It is important that those affected by the pension levy be reassured that every cent of the money has been spent on the jobs initiative. There is a discrepancy, as the Minister has acknowledged, but he will have the opportunity in the budget on 15 October to ensure it is properly accounted for and that decisions taken will ensure all of the money is spent in the appropriate way, on job creation.

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