Catherine Murphy (Kildare North, Independent)

I am confused about retrospection in relation to the pension levy. Will the levy be calculated from 1 January this year but not come into effect until a particular date after the finance Bill has been enacted or will it be calculated on pension funds for the whole of this year? If the latter is the case, as far as I am aware one cannot retrospectively impose a tax. Does the same apply in respect of a levy? A number of pension funds are in deficit. Has the Minister quantified those funds and the impact this levy will have on them? Some commentators have argued that this levy will put such pension funds into even more serious difficulty.

I welcome the internship programme which will provide work experience. Has the Minister quantified the number of people eligible under this programme and in receipt of a social welfare payment? A considerable number of students are not in receipt of a social welfare payment. Their income is often just above the threshold to qualify for a grant. The point I am making is that €50 per week will not be enough for a person not in receipt of a social welfare payment. I am curious to know how these interns will be selected.

The Minister said this initiative was modest and that further initiatives would be introduced. Is it likely initiatives that will target other funds will be introduced or will such initiatives include changes in areas such as social welfare which seek to address, say, poverty traps?

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