Private pensions will be ransacked to fund public sector pay and perks
The pension levy is simply a means to honour a gimmicky election promise, writes Jody Corcoran
Published 15/05/2011 | 09:47
WE ARE in real trouble now. At the first time of asking, the Government has shown itself to be utterly incompetent. Not only is the proposed pension levy grossly inequitable, it may also be unconstitutional. Make no mistake, though, it was designed for no reason other than political expediency.
Before the election, Fine Gael said no tax increases on income; Labour said no cuts in social welfare. It was glaringly obvious even then: never the twain shall meet.
After the election, both Fine Gael and Labour were adamant on one thing: public- sector pay levels would remain untouched, notwithstanding the niceties of that three-card trick -- the Croke Park Agreement -- the credibility of which was destroyed by Joe Durkan of the ESRI last week.