Reverse VAT cut and get pension funds back
Published 28/07/2011 | 05:00
Senator Catherine Noone is to be congratulated for highlighting that up to 90pc of restaurants have failed to pass on the recent VAT reduction to customers.
Unfortunately, it therefore appears the pension fund levy is effectively subsidising the profitability of restaurateurs rather than encouraging consumers to increase spending, as was intended.
Given the damage being done by the levy to the incentive for employees to save for retirement, would it not be more appropriate for the Government to reverse what is clearly an ill thought-out policy?