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Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: I am not the Minister; I am not making these decisions.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: I can point to the Minister's inconsistencies.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: Perhaps the Minister will have the opportunity to do the same soon.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: I will give the Minister an opportunity soon.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: I have grown up — both of us have at this stage. The OECD report goes against others mentioned. For instance, the birth rate across OECD countries is very low. Ireland and France have the highest rates in the OECD at 1.9 per 1,000 women of child bearing age. Even that figure is below the replacement rate. The OECD seems to have conflicting policies in terms of economics and society. It...

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: I support the amendments and I tabled similar amendments on previous Finance Bills. We not only need to examine the current system in the context of workers with irregular employment patterns, but a number of other barriers also need to be examined. The time limits, whether monthly or annual, must be addressed. The greatest impediment in the take up of the scheme is that it does not...

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: In light of his response to these amendments, the Minister is not prepared to meet the cost of extending this scheme but is willing to spend €270 million to buy our way out of Kyoto commitments. The Minister has real choices. We offer subsidies in a range of areas to encourage people to engage in certain behaviour. Would it not be a more beneficial environmental use of Exchequer money to...

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: It is buying them out.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: What else is the Minister doing?

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: I welcome the tabling of this amendment by Deputy Bruton on Committee and Report Stages. It is important in the context of the Finance Bill that we initiate this debate which takes place outside the House but painfully slowly. There is no doubt that there are great inequities within the pension system, both in the scale of the State pension and the level of private pension provision. The...

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: I warn the Minister to be wary of demographic projections. Our current increase in population was not predicted by anyone 20 years ago and with regard to the dependency ratio, that we are now a country with an increasing population with net inward migration and the highest birth rate in Europe gives some hope the ratio will change and lessen. It may not be of the apocalyptic levels quoted...

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: The Minister is learning fast. In any case I would also warn against the forecasting record of the Department in many respects.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: They have tended to be wrong with many projections in the past.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: We can discuss issues such as the granting of medical cards to people over 70, for example. When it comes to demography, the Department of Finance does not have a very good record. I know there has been an improvement in recent times.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: I hope to see improvements in future. The Minister must know that this issue arises regularly at the Committee of Public Accounts. The forecasting section of the Department has been wildly wrong previously, although often on the right side of positive in terms of economic growth. However, if the forecast is wrong, it is wrong.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: The Minister is confusing two sets of figures, as my question was specifically on the number of people who applied after the imposition of the €5 million cap. There are more people in the system with personal pensions. While the answer given to me only referred to one person, namely, the person with the largest personal pension fund of €20 million, the Minister mentioned eight people....

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: Is the Minister stating that of the dozen people in respect of whom subsequent decisions were made, seven were granted personal pension plans of €20 million by the Department in the interim?

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: At the time of the answer, there were——

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: It is important for the record that the Minister clarify this point. As my parliamentary answer referred to 74 decisions to be made by December, there seem to be no fewer than six other cases, at least four of which involve pension plans of more than €20 million. That seems to be what the Minister is confirming.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Dan Boyle: Will the Minister confirm whether the additional €20 million pension funds were made subsequent to my November question? It seems to be the case.

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