Pearse Doherty (Donegal South West, Sinn Fein)

That is not what the Minister stated earlier and I welcome the clarification. Would he consider accepting an amendment on Report Stage which would link any reversal of these initiatives, particularly in VAT because it involves €350 million and is the big ticket item? Would he consider accepting an amendment on Report State that would link the pension levy and a reversal of the reduction in VAT? The spirit of this provision is important. We all understand the constraints the Government is under. We have heard time and again that this had to be fiscally neutral but it is not right to have legislation where there is potential that it will not be fiscally neutral in two years' time with the pension levy funding other aspects of running the State and the deficit. A way of creating support for this, if such can be created, is to ensure, as is the stated intention of the Government, that the pension levy is to fund job creation initiatives. The way to do that is to consider an amendment at Report Stage that would link any outcome of the review which would reverse the VAT rate with a reduction in the pension levy. We can do that by allowing the Minister the discretion, by order, to reduce the percentage of the pension levy and with a stated commitment from him that the outworkings of this legislation would have that effect, that he would issue such orders if such a review deemed the VAT rate were to increase to the original rate.

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