Gilmore moves to defend controversial pension levy

THE pension levy set to hit the retirement pots of thousands of private sector workers is a “very modest levy”, Tánaiste Eamon Gilmore has claimed.

He also hit out at countries that oppose a reduction in the interest rate on Ireland’s bailout, saying they are not helping the recovery of the entire European economy.

Defending the controversial pension levy of 0.6% to fund the Government’s jobs initiative, the Labour leader said: “It’s being applied to funds that have been built up with the benefit of tax reliefs and tax allowances over the years.