Michael Noonan (Limerick City, Fine Gael)

The Exchequer will have to put in money in the first instance. When the Bill is signed there will be three months notice. Money is required from now on. It is like a loan from the Exchequer. In terms of the general Government deficit, it is treated as a financial transaction. The State will put money in and will get an interest rate on it. The State will get its money back as the levy builds over the years. It does not have an effect on the budget figures for example because it is a financial transaction according to the people who deal with these issues.

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