Brian Lenihan Jnr (Dublin West, Fianna Fail)

In response to Deputy O'Shea, the pension schemes have substantial assets and, traditionally, they have not invested in Irish bonds. The NTMA is in discussions with them on that issue.

In regard to personal savings, I will examine proposals put forward on any side of the House as to how to release them. I must say, however, that proposing marginal tax rates in excess of 60% is probably likely to increase further the volume of precautionary savings in the banking system.

Deputy Perry asked on the question of bank guarantee schemes-----

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