Special Savings Incentive Scheme.

Dáil Éireann Debate, Thursday - 1 June 2006

Thursday, 1 June 2006

Ceisteanna (128)

Charlie O'Connor

Ceist:

128 Mr. O’Connor asked the Minister for Finance the costs of providing a SSIA style pension incentive scheme where the State matched every euro privately invested with an equal contribution, the scheme being confined to those on the standard rate of income tax or lower; and if he will make a statement on the matter. [21446/06]

Freagraí scríofa

Minister for Finance (Mr. Cowen)

The cost of the proposed scheme mentioned in the question would depend upon the extent to which taxpayers availed of the incentive, the savings rate, the amount saved and whether there was a cap or not on the maximum amount saved. In the absence of any indication of these parameters, I am unable to give any accurate projection.