Mr. Derek Moran:

And tax breaks of their nature, you know ... to be relieved of tax you have to have taxable income. To invest, you have to have surplus cash to be able to invest. So, yes they, by definition, go to people with higher incomes. The interesting part was in ... you know, when they were restricted ... so was also introduced in the same budget the restriction of reliefs. The, sort of, minimum tax regime was introduced in 2006. So in other words, not only were you phasing them out but you were also restricting the capacity of people to use them, and that was brought in in 2006 as well.