To say that the Minister for Finance grossly underestimated the uptake and cost of the scheme is not an exaggeration. The Government is now legally obliged to give €1 per €4 saved, up to a maximum personal contribution of €254 per month. For every person maximising his or her contribution, it is a cost to the Exchequer of €64 per month or €762 in a full year. The more you save, the more you gain. For hundreds of thousands of account holders this scheme is literally a licence to print money.