John Curran (Dublin Mid West, Fianna Fail) | Oireachtas source

I thank Mr. Nicholson and Mr. Duggan for their presentation which was very informative. It is obviously a complex and detailed process which will further evolve. I ask that they periodically keep the committee updated on progress, particularly after the closure for submissions for the straw man and, in particular, on any wider analysis. I am struck by the fact that this will cause a seismic shift in terms of the amount of money that will go into private pensions. That money will be removed from the economy and there must be an assessment of the impact which that would have. As Mr. Nicholson stated at the outset, that amount of money which is clearly not being saved currently being removed from day-to-day expenditure will affect growth figures and there will, therefore, be a wider economic impact. I ask that the committee be kept informed of any data which are obtained in that regard. We look forward to having the witnesses back before the committee to further discuss the issue as it evolves over time.