Michael Noonan (Limerick City, Fine Gael)

There has been mixed advice on that, but I am looking at it. A proposal in the Fine Gael programme for Government suggested that people would be allowed draw down 2.5% of their fund for each of four consecutive years, a total of 10%. However, that proposal was not carried forward into the programme for Government. We are looking at the possibilities. There is a case for and against. We do not want to impair pension payments for the future either as that would be a problem.

Senator D'Arcy asked about a constitutional break. Anything that requires a referendum will be difficult now, especially if it has been suggested by Europe. However, we will have a fiscal stability Bill before Christmas and we may be able to include the break in legislation rather than putting it by way of referendum into the Constitution.

Senator Mullins asked about diesel and cigarette smuggling etc. The Revenue Commissioners are examining that issue and taking action on it. The customs service is at the front line on that. It is a big problem and I have discussions regularly in that regard with the chairperson of the Revenue Commissioners.