Frances Black (Independent) | Oireachtas source

I apologise for running in late. I welcome the Minister of State to the House. Recommendation No. 1 calls for a report by the Minister on private pension tax relief, including "an assessment on both the gender and distributional impact and an assessment of the potential impacts or benefits of a shift from a marginal rate to a 30 per cent standard rate approach for private pension tax relief in respect of cost to the exchequer and gender impact." I know the Minister of State had an exchange with my colleague, Senator Ruane, on Committee Stage on this point. We tabled a similar amendment to again raise the issue of private pension tax relief. Each year, we spend approximately €2.9 billion on private pension tax relief, while at the same time, the Commission on Taxation and Welfare estimates that a universal pension at the same level for everybody in the State, including all women and men, would cost around €3 billion. On one hand, we have a tax relief of which 70% accrues to the top 20% of earners and, on the other, we have a policy which would be much more equitable and have huge economic and social benefits for a great many people in this country.

On Committee Stage, the Minister of State indicated that more data was necessary and that she had asked the interdepartmental pensions reform and taxation group to examine this policy. I know the Minister acknowledged the role of equality budgeting in his Department. Would the Minister consider tasking this interdepartmental group with specifically looking at the gender and distributional impact of the policy or commissioning independent research on this?