Feargal Quinn (Independent)

I voice my support for what Senator O'Toole stated but particularly for what Senator Harris stated. For years we have encouraged people to plan for their retirement and their pension and now we are creating a disincentive, to quote the word used by Senator O'Toole, to what we as a State should be encouraging people to do. It is not the only one. There are other instances in the Bill where that arises.

As Senator Harris stated, it is very difficult to support somebody who is a sole trader, self-employed or someone earning €100,000 and then to discover they are paying interest and all the other expenses to do so yet, under another part of this Bill, we will force them to pay tax on 5% of their pension as though they were withdrawing it each year.

All of what has been done in the Bill is not taking into account, and I believe the Minister has said also, the urgency required to create more jobs, encourage small and medium businesses to succeed, and for people to set up businesses. If we are making it such a disadvantage at this stage, certainly for people to start a business, be a sole trader or become self-employed, we are working in the wrong way. We can do much more in this area. The Minister's heart is in the right place. It seems a shame that we have not been able to give it the attention it deserves. I support Senator Cannon's recommendation.