Paul Gavan (Sinn Fein) | Oireachtas source

I move recommendation No. 6:

In page 19, between lines 15 and 16, to insert the following: “Report on cost of Employer contributions to PRSAs and PEPPs since 2022

13. The Minister shall, within one month of the passing of this Act, prepare and lay before Dáil Éireann a report on the cost to the Exchequer from aggressive tax planning using the employer contributions to PRSAs and PEPPs since 2022.”.

This recommendation is just a common-sense suggestion to ensure the taxpayer is, or is not, frankly, getting value for money.

I will move on briefly to the others. Recommendation No. 8 is a report on costs of increasing the standard fund threshold to €2.8 million. It states, "The Minister shall, within one month of the passing of this Act, prepare and lay before Dáil Éireann a report on the costs of increasing the standard fund threshold to €2.8 million, clearly outlining the cost to the Exchequer as well as providing a cost per beneficiary." Again, this is because we just do not believe there is value for money in this area.

The next recommendation to which I can speak is recommendation No. 10. This relates to a report on the effectiveness of the planned auto-enrolment scheme. It states, "The Minister shall, within one month of the passing of this Act, prepare and lay before Dáil Éireann a report on the comparative state supports received by workers in the auto-enrolment compared to workers earning above the standard rate band in an occupational pension as a result of income tax relief against earnings from employment for pension contributions, as well as clearly outlining how it will deliver its stated aim of taking pressure of[f] public finances in the future." Again, that would be a very worthwhile report.

The next recommendation, No. 15, relates to a report on pension tax reliefs and subsidies, and my colleague Senator Higgins referenced concerns about this as well. In the circumstances, it is a very reasonable request. It states, "The Minister shall, within 3 months of the passing of this Act, prepare and lay before Dáil Éireann a report on the tax reliefs and subsidies applicable to pensions, including contributions, and at drawdown to assess their cost to the Exchequer and distributional impact."

The last recommendation in this grouping is No. 36.