Brendan Ryan (Dublin North, Labour) | Oireachtas source

On a point related to the matters raised by Deputy O'Dea and Senator Healy Eames, is the industry in Ireland making super-normal profits? How does the industry in Ireland compare with international standards? It does not appear to be covered in the report. Perhaps the witnesses can address this point if they have covered it in the report.

With regard to the potential levy on funds, as public policy a 0.6% levy was applied to the pensions industry by the Government to fund jobs initiatives. What flexibility do pension schemes have in respect of how they apply the levy? I refer to the pension scheme of the airline based in the middle of my constituency. People have received letters to say that the funds have not applied the 0.6% levy over the past two years but it is their intention to apply a 1.2% levy on those funds permanently. In terms of the flexibility of schemes to do such things, it seems to be against the thrust of the intention of the levy. I am interested in the comments of the panel in that regard.