Pat Rabbitte (Dublin South West, Labour)

On Second Stage we discussed the proposal to change the normal arrangement in respect of quarterly instalments to facilitate the front loading and so on for the present year and for the subsequent year in order that the total of €7 billion be realised. During his introductory speech the Minister for Finance said he was prepared to contemplate the notion of a holiday in respect of the normal deduction or set-aside in this regard. I am not entirely sure what he meant by that in the sense that if we need to front load and use it up this year and next year, the question of a holiday in the short term does not seem to arise. Is the Minister of State, Deputy Mansergh, in a position to elaborate on the Minister's thinking in this? Does he envisage the 1% traditional deduction each year might be put in abeyance for a period? If he does can he outline his thinking to the House?

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