Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

The Minister is talking rubbish. I challenge him to produce an alternative budget to back up what he said about standardisation. It was a complete mistruth, and he knows it. He cannot defend this decision. I asked him a simple question about why we should ask Tesco workers, hairdressers and shop floor workers to help contribute to pension pots of €2.8 million for the wealthiest in Irish society. This measure will entitle the wealthiest to State-supported pensions of €100,000 and a tax cut of €320,000. That is what the Government announced yesterday. Why is the Government asking ordinary people to do it? Why does it believe the State should help people build up pensions to that level?

The Minister is correct, in that the pension pot used to be €5.4 million.

That was the last time Fianna Fáil was in government, right before it wrecked the economy and brought the IMF to our shores. It was madness then. It is madness now. We should not go back. Answer the question. Why should ordinary workers help to contribute to the pensions of the most elite in Irish society? Ordinary people do not have a whiff of pensions of €70,000, €80,000, €90,000 or €100,000. Why does the Government believe they should contribute to this? Why should this tax break of €320,000 go to people who already have pension pots above €2 million?

See this speech in context