Micheál Martin (Cork South Central, Fianna Fail)

I asked the Taoiseach why he specifically hit pensioners in applying the pension levy. At the behest of the industry, he stitched into the legislation a specific provision that pensioners' benefits could be reduced through the application of the levy because they were in deficit. If he was convinced about charges, fees and administrative fat he would not have given that leeway to the trustees and pension funds. That is my point.

The Minister, Deputy Burton, advised the Minister for Finance, Deputy Noonan, in writing that the introduction of a levy could force certain schemes to wind up. It is too late to carry out a study because the horse has bolted. Will the Taoiseach consider carrying out a comprehensive assessment of the levy's impact on the thousands of pensioners concerned, particularly those who work for Aer Lingus and the Dublin Airport Authority. The pensions for these people will be reduced because the legislation specifically targeted their benefits to ensure the levy would raise €1.8 billion. The Taoiseach did that at the behest of the industry because he was lobbied on the matter. The industry told the Government it must include this measure in the legislation so that the pensioners could be hit. The pensioners will be hit according to the letters they have received from the trustees of the schemes.

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