Seanad debates

Wednesday, 6 November 2013

Social Welfare and Pensions Bill 2013: Committee Stage

 

1:30 pm

Photo of David NorrisDavid Norris (Independent) | Oireachtas source

I commend Senator Mooney and agree with him in indicating some of the concerns I have, but I wish to add another one. What is unearned income? I do not know anybody who has not sweated and laboured for their money and then took a risk in putting it into stocks and shares, sometimes getting wiped out, or they may put it into prize bonds which are Government guaranteed and all the rest of it. To someone of my generation €240,000 seems like a vast sum of money. However, in the country's present situation, it is not such a vast sum of money and the Minister stated it only earns €6,000 a year. It actually does not because the rates are much lower. That is a tiny amount. The capital sum might seem big, but €6,000 to disqualify somebody is not right.

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