Alan Shatter (Dublin South, Fine Gael) | Oireachtas source

I move amendment No. 64:

In page 38, line 38, to delete "€250" and substitute "€400".

I hope Deputies will welcome this amendment. Deputies may recall that during the Committee Stage debate on this section I undertook to re-examine the earned income threshold under subsection (3). As currently drafted, section 33(3) provides that where a specified debtor's income increases by €250 or more a month after the deduction of income tax, social insurance contributions and other levies and charges, the debtor is required to surrender 50% of that increased income to the insolvency service for the benefit of creditors. Having considered the matter further since Committee Stage, I now propose to raise the €250 per month limit to €400 per month. The proposed increase should act as an incentive for debtors who are the subject of debt relief notice to continue in employment or to seek to improve their employment situation during the supervision period.

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