Michael McGrath (Cork South Central, Fianna Fail)

I thank the Minister for his response. As was mentioned recently, when EU and IMF officials reviewed the bailout agreement, they made it clear that any initiative would have to be revenue neutral and the Minister has referred to that. The gross costs of what is proposed are significant and I emphasise the word "gross" because we all hope the measures will be successful and that some of the gross costs will be offset by additional economic buoyancy through employment creation, which will reduce the welfare bill and increase the tax take for the State. However, the gross costs for two of the measures that have been signalled for inclusion in the jobs initiative are significant.

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