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THE imposition of a levy on private pension funds is a troubling straw in the wind where the new government is concerned.
We already have them stalling in their shared commitment to abolish the Senate by kicking the issue to a review body.
Where the imposition of a levy on private pension funds is concerned, one may well ask why private pension investments should be raided before tax-generated public pensions? The former are paid for in full by their subscribers, the latter are not.
They are first subsidised and later remitted by the taxpayers. Their recipients still get top rate tax relief on their contributions.
Where is the equity promised by FG and Labour before the election? When the taxpayers cannot find the money to pay these pensions, they borrow as they are now doing from the ECB and the IMF, so that this cosseted sector can go on living in the style to which they have become accustomed.
Of course it might just have something to do with the fact that the new proposals were drawn up by, in the first instance, the Department of Finance, and then the Department of the Taoiseach and the Revenue Commissioners, all of whom are future recipients of public pensions.
It might be understandable that public officials would have this blind spot. There is less excuse for their political masters who were made fully aware first hand of the challenges facing the private sector in the very recent election campaign.
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