Seanad debates

Wednesday, 10 December 2014

Finance Bill 2014: Committee Stage

 

11:55 am

Photo of Simon HarrisSimon Harris (Wicklow, Fine Gael) | Oireachtas source

I note Senator Zappone tells us she always does what Senator Quinn says and refers to Senator O'Brien as an expert in this field, which I am sure he is. I am not sure what weight she attaches to my words, but I will give it a go anyway.

For the information of the House, because I think the information is useful, the average cost of the USC charge on PRSAs, in respect of the employer's contribution, works out at just under €3 per week per individual. That is a 2012 figure, which, in terms of informing the debate, is useful to have. What I am ultimately saying to Senator Zappone and to this House is that if we are going to talk about the future of the USC it is important to do it in the round. One issue, and it is an important issue, is to ask where the USC goes from here, how it is to be applied, what happens in the context of a tax reform plan and how a hole in the public finances arising from any changes made will be plugged. If we are going to have a debate about pension provision and how we can achieve a greater increase in the pension rate, it is important to do it in the round. The Government has given a commitment, particularly in relation to pensions, not just to have a discussion. I am sure Senator O'Brien did not mean it in that manner. It has committed not just to have a discussion but to put in place a timeline and an implementation plan. They are the words in the Government statement of priority. This is the checklist of things we want to get through in advance of the conclusion of this Government's term in 2016. Therefore, I suggest that we allow that process to get under way. There is a commitment that this review of State supports to pensions will take place in 2015. There is a commitment that the Government will look at the idea of a new supplementary pension savings scheme. I will ensure and commit to this House that the views expressed earnestly by Senators are fed into that process. It is not my business to interfere in this House, but I would encourage it to avail of opportunities to have an input. If I can facilitate that, I will be happy to do so.

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