Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The Minister used numbers which were intended to be illustrative of the salaries people might earn and the benefit they would get. He said that somebody earning €9 million would benefit to the tune of €1 million per annum as a result of SARP. To the best of my knowledge, the salaries of those benefitting from SARP at the higher end have not been provided. Are individuals who are earning more than €5 million a year currently benefitting from SARP? The sums of money are extraordinary if that is the case. The Minister needs to put that information on record because the House deserves it. I certainly do not have it.

Why is the Minister not reinstating the €500,000 cap? He is bringing in a cap of €1 million, which is double the original cap. He has confirmed that those who are currently earning more than €1 million will continue to benefit from the existing arrangements up to January 2020 but has not given a reason for this. Is it that he believes he needs to give due notice of such change to employers, individuals and so on? The Minister needs to explain this decision. Will he indicate what will be the nature of this review? Who will carry it out? Will it be led by the Department of Finance, the Revenue Commissioners or an external body? What exactly will they be asked to review?

See this speech in context