Pension levy 'modest', says Tánaiste

Pension levy 'modest', says Tánaiste

Tánaiste Eamon Gilmore said today that the levy imposed on private pension funds is both modest and temporary.

The Labour Party leader made the comments following a poll in today's Sunday Independent which revealed that 64% of people believe the Government was wrong to introduce the 0.6% levy.

Some 69% do not believe the initiative will create thousands of jobs as promised.

But speaking at the Labour Party's annual James Connolly Commemoration in Dublin, Eamon Gilmore said it will work.

"The levy that's being applied is a very modest levy," he said.

"It's being applied to funds that have been built up with the benefit of tax reliefs and tax allowances over the years.

"It's a temporary levy, and it’s a levy that's dedicated for the purpose of the measures that are required to make the jobs initiative work."

More on this topic

SIPTU says Government can afford to stop pension age riseSIPTU says Government can afford to stop pension age rise

Fianna Fáil wants pensioners to get another €5 per week in the budgetFianna Fáil wants pensioners to get another €5 per week in the budget

Return of SSIA scheme on the cards - but not as we knew itReturn of SSIA scheme on the cards - but not as we knew it

Bruton declines pension increase but no word from BertieBruton declines pension increase but no word from Bertie

More in this Section

Paschal Donohoe 'honoured' to be elected as President of Eurogroup of Finance MinistersPaschal Donohoe 'honoured' to be elected as President of Eurogroup of Finance Ministers

Former clerical officer from Kerry jailed over child abuse imagesFormer clerical officer from Kerry jailed over child abuse images

'None of us are immune': Vast majority of new Covid cases are people under 25, officials say'None of us are immune': Vast majority of new Covid cases are people under 25, officials say

Man given bail allegedly caught later same night in Cork with cannabis worth €23k, court hearsMan given bail allegedly caught later same night in Cork with cannabis worth €23k, court hears


Lifestyle

Is there a natural treatment I could use instead of steroids and antibiotic drops for dry eye?Natural health: I suffer from chronic dry eye

Denise O’Donoghue checks in with several expats affected by the cancellation of shows in BritainIrish actors on the crisis the West End theatre industry faces

This month marks four decades since the release of the classic record that would also be Ian Curtis’s final album with Joy Division. Ed Power chats to a number of Cork music fans about what it meant to themJoy Division: Forty years on from Closer

Last week, I shared my lockdown experience. I asked for a more uniform approach, should there be another lockdown. I explained that I worked mornings. Maybe I should have been more specific: working 8am to 1pm without a break, I gave feedback and covered the curriculum, using our school’s online platform. In the afternoons, I looked after my three kids (all under ten) while my husband worked. It was a challenging time for everyone and the uncertainty around what I should have been doing as a teacher made it harder.Diary of an Irish teacher: I want to get back to work. But I would like to do it safely

More From The Irish Examiner