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05/02/2009
Dáil Vote On Spending Cuts Imminent
The Dáil will today vote on the Government's latest round of spending cuts.
Included in the cuts the is the controversial public service pension levy, which is believed will harshly affect the take-home pay of public servants.
Unions are currently considering their response to the proposals, which were hammered out at a meeting this week, during which union leaders sensationally walked out without agreement.
The salary-based levy is part of a package of measures designed to cut €2 billion in Exchequer spending in 2009.
The levy will be calculated on gross pay and will range from a 3% contribution for workers earning €15,000 up to 9.6% for staff earning €300,000.
However, it has emerged this morning that the impact of the levy will be substantially eased by a tax reduction, seeing middle and higher income public servants only minimally affected.
The recalculation of pensions and taxes is expected see the exchequer benefit by about €900 million over a full year.
Mr Lenihan said in the Dáil yesterday senior public servants who had voluntarily offered to cut their salary following October's budget could now revert to their previous pay and make their contribution instead through the pension levy.
Minister for Finance Brian Lenihan will lead an all-party Dáil debate on the proposals before TDs vote on the issue in Leinster House at 1.30pm.
(DW/BMcC)
Included in the cuts the is the controversial public service pension levy, which is believed will harshly affect the take-home pay of public servants.
Unions are currently considering their response to the proposals, which were hammered out at a meeting this week, during which union leaders sensationally walked out without agreement.
The salary-based levy is part of a package of measures designed to cut €2 billion in Exchequer spending in 2009.
The levy will be calculated on gross pay and will range from a 3% contribution for workers earning €15,000 up to 9.6% for staff earning €300,000.
However, it has emerged this morning that the impact of the levy will be substantially eased by a tax reduction, seeing middle and higher income public servants only minimally affected.
The recalculation of pensions and taxes is expected see the exchequer benefit by about €900 million over a full year.
Mr Lenihan said in the Dáil yesterday senior public servants who had voluntarily offered to cut their salary following October's budget could now revert to their previous pay and make their contribution instead through the pension levy.
Minister for Finance Brian Lenihan will lead an all-party Dáil debate on the proposals before TDs vote on the issue in Leinster House at 1.30pm.
(DW/BMcC)
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