Kieran O'Donnell (Limerick City, Fine Gael)
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213. To ask the Minister for Finance his plans for reviewing the pensions levy; and if he will make a statement on the matter. [33351/14]

Finian McGrath (Dublin North Central, Independent)
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235. To ask the Minister for Finance if he will remove the pension levy as many families with special needs children are under immense pressure (details supplied); and if he will make a statement on the matter. [33559/14]

Tommy Broughan (Dublin North East, Independent)
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240. To ask the Minister for Finance the options being considered by his Department in the context of Budget 2015 regarding the complete removal or the reform of the pension levy. [33642/14]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 213, 235 and 240 together.

I announced in my Budget 2014 speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 would be abolished from the 31st of December 2014. However, I introduced an additional levy on pension funds at 0.15% for 2014 and 2015 to, among other things, continue to help fund the Jobs Initiative.

The reduced VAT rate of 9% on tourism and certain other services was one of the very significant and successful measures introduced by the Jobs Initiative. It was due to end in 2013. In my Budget 2014 speech I announced the continuation of the reduced 9% VAT rate. I also announced that the Air Travel Tax is being reduced to zero with effect from 1 April 2014. The 9% VAT rate has helped to create 15,000 new jobs as well as protecting existing jobs. Since the Budget announcement about the reduction in the Air Travel Tax, airlines have announced the opening up of new routes resulting in significant increases in passenger numbers with the associated increase in tourism activity and employment.

The additional 0.15% levy for 2014 and 2015 will also be used to help make provision for potential State liabilities which may emerge from pre-existing or future pension fund difficulties although funds from the levy will not be hypothecated or specifically set aside for this purpose. The Government has decided that such liabilities will be met by the Exchequer as they arise.

I am conscious of the significant contribution of taxpayers, generally, to the rebalancing of the public finances and the measures introduced to support and develop the economy. There has been progress in these areas. These efforts are ongoing, including the continuation of measures in the Jobs Initiative, designed to improve the economic environment by providing the means to encourage job creation in areas of our economy most likely to deliver that employment in the shortest timeframe possible.

Preparations for Budget 2015 and the consequent Finance Bill are ongoing. It would not be appropriate for me to comment on what changes, if any, are being considered in the pension fund levy or any other tax measure.