Michael McGrath (Cork South Central, Fianna Fail)

I move amendment No. 1:

In page 3, before section 1, to insert the following new section:

"1.—The Minister for Finance shall within two months from the passing of this Act, and every two months thereafter, prepare and lay before Dáil Éireann a report setting out the number of jobs created as a result of each taxation measure provided for by this Act and the number of jobs created as a result of the levy on pensions schemes provided for in section 4 of this Act.".

One of the weaknesses of the jobs initiative announced by the Government is the lack of a specific jobs target. We are all aware of the crippling unemployment situation in the country. The latest live register figures show that at end of May 443,200 people were unemployed, an unemployment rate at a record high of 14.8%. We all hope that the jobs initiative will result in the creation of jobs. However, it is important we can identify the jobs created as a direct result of the measures introduced in the jobs initiative, in particular the taxation measures, including the reduction in VAT, and can separate them from jobs which may be created in the economy by an expected upturn and, it is hoped, some economic growth this year.

I know the Government wrote in April to many employers around the country asking them how many jobs they expected would be created by the different initiatives contained in the jobs initiative. I understand the employers were to respond in this regard by 29 April. I am asking that the Government publish the feedback it has received thus far from employers in regard to what jobs are expected to be created and that the House be informed on an ongoing basis of the impact of the measures introduced. The jobs initiative is being funded by a harsh and unfair pension levy which will result in pensions being cut, higher contributions being paid by workers and may well result in the closure of some pension schemes.

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