Pension cut backs could finance health care: Quinn

The leader of the Labour Party, Ruairi Quinn, has set down the way in which his party proposes to generate funds if it becomes part of the next Government.

Mr Quinn proposes to raid the National Pension Reserve funds in order to pay for a better National Health Service.

In a speech at his party’s special conference in Dun Laoighire this evening, Mr Quinn said that the €1bn that is paid into the fund every year should be reduced by 75% for five years to finance a complete overhaul of the Irish health service.

Mr Quinn claims that this would generate enough capital to build new hospitals and supply new beds while still setting aside money for future pension needs.