Seanad debates

Thursday, 3 April 2003

10:30 am

Michael Finucane (Fine Gael)

I was reminded of Shakespeare's words, "Me thinks he doth protest too much."

On a different note, the Leader may recall that on a previous occasion I mentioned the special savings investment scheme. I recognise that many people who participated in that scheme took a gamble because it was linked to shares or unit trusts. I am concerned about those people because the financial situation has changed. They thought they would make profits of 25% over the period during which they contributed but if they want to pull out of the scheme now there is a 23% penalty. Some fresh thinking is required because, while people entered the scheme from a savings and investment point of view, circumstances have changed due to the financial situation. Perhaps the Leader could convey that to the Department of Finance which should be sensitive to the situation.

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