Terence Flanagan
Question:89. Deputy Terence Flanagan asked the Minister for Finance the number of jobs created as a result of the money generated by the pension levy; and if he will make a statement on the matter. [1362/13]
View answerWednesday, 16 January 2013
Questions (89)
Written answers
Employment data are presented in net terms and information on gross flows into and out of employment are not available, making it difficult to assess the number of jobs created by any policy initiative.
Notwithstanding that quantifying the impact is difficult, I am confident that the measures introduced as part of the Jobs Initiative, such as reducing the rate of VAT in the high value added tourism sector, are playing an important role in both creating and sustaining employment.
To expand a little on the above, research carried out by my Department and published in the Medium-Term Fiscal Statement (November 2012) showed the employment gains in the accommodation and food sector - the most relevant sector in terms of targeting in the Jobs Initiative - since the rate reduction were contrasted with declines in both economy-wide employment and the wider service sector employment over the same period, suggesting that the measures did have an impact on employment growth. In this context I provided assurances to the tourist industry that the 9 per cent rate will continue throughout 2013, as currently legislated for.
Question No. 90 answered with Question No. 87.