Olwyn Enright (Laois-Offaly, Fine Gael)

The Minister will be aware of his party's commitments in its election manifesto and in the programme for Government to cut the PRSI rate from 4% to 2%, costing approximately €640 million, while at the same time committing to raising the pension by €100 over the lifetime of the Government. When these proposals were made, the Government had the report to which the Minister refers in its possession.

The Minister stated that the Exchequer has covered shortfalls for the last 40 years, which I accept. Is this the Government's long-term plan for the future? Will he take any immediate steps to counter this impending deficit? He did not seem to highlight any such steps in his reply. Is the Government prepared to let the fund continue in deficit and effectively let it go bust? That is the direction it seems to be taking. Has the Government abandoned its commitment to a self-financed social insurance fund, financed through PRSI?

See this speech in context