'If they get away with this, if the Government are locked out of the bond markets the Government are going to start appropriating money in deposit accounts'
Financial expert Eddie Hobbs has launched a campaign urging taxpayers to write to President McAleese to get her to refer what he calls government 'theft' to the Supreme Court. On Newstalk he told George Hook about his fears that the Government taking money out of people's pensions pots could be followed by a raid on deposits
EH: A line was crossed over in this Finance Bill -- the line the Government is sending out is that it is all right to steal money provided it is in a good cause.
I don't think that is acceptable at all. In the Finance Bill that has just been published Pension Trustees are now being targeted by our Government and they are being told that you will get a fine of €380 a day for every day you don't give us this money, starting at the end of July. This is without precedent in legal history. What I am saying to people who are concerned about this and who see it for what it is: you can write a letter to President Mary McAleese and ask our President to refer the Finance Bill to the Supreme Court because if Trustees are going to get hammered by the Bill let the President speak for us.
GH: People don't understand what is at stake. Joe Costello Labour Party TD plucks out all the rich who benefited from that, they got great tax reliefs and we're just taking a little bit of it back.