Dáil debates

Tuesday, 7 March 2006

Finance Bill 2006: Report Stage (Resumed) and Final Stage.

 

10:00 pm

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael)

If the commission was here the members would not be arguing along the lines the Minister is arguing. The Minister congratulated himself for being the first to put a cap on pensions. That is true but most of the huge explosion in the cost of pensions has occurred under his Government, with the huge increase in pension relief provided, allowing from what was 15% of income to rise to 30% of income and now at 40% of income in certain cases. Caps were never an issue. Caps have been introduced only late in the day on a scheme that has been largely created by the Government. The equity element for which the Minister seeks credit should have been part of what the Government allowed Mr. McCreevy introduce. The Government should have recognised that the change from 15% across the board to this generous relief required those sorts of caps. I do not pretend this amendment is the answer but the House must get to grips with this and have a more significant reforming element than we have seen. The sooner the Government comes forward with proposals we can debate the better. I am glad this has been supported. It has been worthwhile to debate this issue and hopefully when we return next year a more comprehensive package of reform will come from Government, which I will support if it is fair.

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