Written answers
Thursday, 1 June 2006
Department of Finance
Special Savings Incentive Scheme
5:00 pm
Charlie O'Connor (Dublin South West, Fianna Fail)
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Question 128: To ask the Minister for Finance the costs of providing a SSIA style pension incentive scheme where the State matched every euro privately invested with an equal contribution, the scheme being confined to those on the standard rate of income tax or lower; and if he will make a statement on the matter. [21446/06]
Brian Cowen (Laois-Offaly, Fianna Fail)
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The cost of the proposed scheme mentioned in the question would depend upon the extent to which taxpayers availed of the incentive, the savings rate, the amount saved and whether there was a cap or not on the maximum amount saved. In the absence of any indication of these parameters, I am unable to give any accurate projection.
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